Double-digit growth in daily retail sales in China over National Day ‘Golden Week’
New economy services such as car-sharing a hot growth spot, commerce ministry says
China’s daily retail sales during the country’s “Golden Week” holiday that ended on Sunday rose at a double-digit pace, on a par with growth during the same break last year, data from the commerce ministry showed.
Average daily sales of retailers and catering firms increased 10.3 per cent to 1.5 trillion yuan (US$226 billion) during the eight-day National Day holiday, the ministry said.
Daily revenue grew 10.7 per cent in the previous year.
The holiday, which ran from October 1 to 8 this year as it coincided with the Mid-Autumn Festival, is a peak season for Chinese people to pack their bags for distant and not-too distant travelling.
In revenue terms, the holiday is more important for retailers than Lunar New Year as they vie for customers with promotions and discounts.
Usually, the National Day holiday runs from October 1 to 7.