National retail and catering revenue rose 8.5 per cent during the holiday to 1.005 trillion yuan (US$148.96 billion), the Ministry of Commerce said on Sunday. Photo: Xinhua

China’s Lunar New Year spending growth slows to decade low despite record US$148.96 billion sales

  • National retail and catering revenue rose just 8.5 per cent compared to 10.2 per cent last year, the Ministry of Commerce said
  • Growth rate for tourism revenue also down from 12.1 per cent in 2018 to 8.2 per cent this year, a total spend of 513.9 billion yuan during the 2019 holiday period
Topic |   China economy

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National retail and catering revenue rose 8.5 per cent during the holiday to 1.005 trillion yuan (US$148.96 billion), the Ministry of Commerce said on Sunday. Photo: Xinhua
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