The sales of the six large department stores such as the Grandbuy Department Store, the Friendship Store, the Teemall, the Xin Da Xin Grandbuy, the WangFuJing Department Store and the Modern Department Store have reached RMB 300 million with a 30% increase compared to the same period last year. The other shopping centers and business streets were all crowded with people. The operating revenue of the shops in the Grandview Plaza experienced a 25% increase compared to the same period, which exceeded expectations.

According to the analysis of Director Jiang from the Guangzhou Friendship Store, the phenomenon of the prosperous department stores is formed because many citizens have confidence in consumption now. On one hand, thanks to the bull market, the fortune of the shareholders has been enriched; and on the other hand, the entire macro-economic structure has been developed very rapidly and the value of the Renminbi (RMB) against the U.S. dollar has hit a new high recently. He also said that there were many clients choosing to buy the expensive luxury items in the Friendship Store during the May Holiday.

Editor: Yan