Retail sales surge during Chinese New Year holiday

Indo Asian News Service

Beijing, Feb 16 (IANS) Holiday shopping spree significantly boosted China's retail sales during the week-long Lunar New Year festival, data released by the Ministry of Commerce showed.

Shops and restaurants across the country earned 539 billion yuan ($85.5 billion) in the past week, an increase of 14.7 percent in comparison with that in the previous year. The sales volume of food was up 9.8 percent, jewellery up 38.1 percent and garment up 6.3 percent. The sales of digital products also jumped, reported Xinhua.

The Spring Festival, which fell Feb 9 this year, is traditionally a time for family reunions in the nation. Businesses usually experience a boom during the period as people swarm to shops and restaurants.