Hainan tops Chinese provinces in retail and catering revenue in Golden Week
The 7-day national holiday has just ended. For the Chinese, the Golden week is a key time for travel, shopping and dining out. For the country's economic observers, it also serves as a useful gauge of consumer sentiment. And data have come in strong this year.
According to a report released by the Ministry of Commerce, sales revenues of national retail and catering sectors reached 870 billion yuan during the seven-day holiday, a 13.6 percent increase from last year. And the tropical island province of Hainan topped the chart with a 19.3 percent rise in retail and catering revenue.
The report also observes an increased preference for mid-range dining and shopping, and decreased spending in the luxury sector. It says it’s a sign that the country’s frugality campaign’s taking hold.
SOURCE: Xin Hua
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