China's retail sales rose by 16 per cent year-on-year
during the week-long May Day holiday, largely driven by large retailers, the
Ministry of Commerce said yesterday.
A woman selects
fresh vegetables at a department store near Donghuan Road in Suzhou, East
China's Jiangsu Province. [newsphoto] |
Retail sales of consumer goods hit 278 billion yuan (US$34.75 billion) over
the holiday period, according to statistics released by the ministry. The figure
was nearly half the country's average monthly retail sales in the first quarter
of this year.
"Large chain enterprises, cashing in on their advantages in sales networks
and brands, played a leading role in the 'golden week' market," the ministry's
department of market operation regulation said.
Distribution businesses, particularly shopping malls, supermarkets and
electronics chain stores in urban areas, drew in customers with shopping
festivals, fairs and other promotions.
Statistics from the ministry show that the major 1,000 retail companies
achieved a sales volume of nearly 50 billion yuan (US$6.25 billion) from May 1
to May 7, up 18 per cent from a year ago.
The week-long holiday has become a great opportunity for businesses in more
industries to make money.
China's catering sector enjoyed robust growth during the "golden week,"
especially driven by demand for wedding banquets, the ministry said.
Many couples in China married during the May Day holiday week, traditionally
a good time for a wedding, especially this lunar year of the dog when there are
two "springs" believed to bring good luck.
Some couples in Shanghai who were unable to book a wedding banquet in the
city travelled to nearby cities in Zhejiang and Jiangsu provinces for their
weddings.
Statistics published by the National Tourism Administration on Sunday show
that during this May Day holiday the number of tourists visiting 116 Chinese
scenic spots grew 12.9 per cent year-on-year, with ticket income rising 21.6 per
cent.
Overall tourism revenue in 38 major Chinese cities during the seven-day
holiday exceeded 20 billion yuan (US$2.5 billion).
Since the "golden week" holiday system which includes week-long holidays for
the Lunar New Year in January or February, Labour Day in May and the National
Day in October was introduced by the government in the late 1990s, the three
holidays have become the most important sales periods for domestic retailers.
This is despite disputes about the rationality of "golden week," which has
exerted great pressure on the transport, catering and hotel and tourism
infrastructure, according to experts.
(China Daily 05/09/2006 page9)
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