The
consumer spending during the Chinese Lunar New Year holiday surged
noticeably, according to the latest statistics from the Ministry of
Commerce (MOC). The
combined sales of retail and catering enterprises in China rose 28.7
percent year on year to 821 billion yuan (about 127.5 billion U.S.
dollars) during the Spring Festival golden week, data from the MOC
showed. China's
online sales exceeded 122 billion yuan during the same period, with
online catering sales surging 135 percent compared with the Spring
Festival holiday last year as more Chinese ordered ready-to-eat meals
through e-commerce or online food delivery platforms. Sales
of products related to Lunar New Year's Eve dinners increased by 54.9
percent year on year during the holiday, said the MOC. The
Spring Festival, or the Chinese Lunar New Year, is an important
occasion for family reunions, which falls on Feb. 12 this year, and many
places across China have encouraged residents and migrant workers to
stay put for the festival to reduce the flow of personnel and curb the
spread of the COVID-19 epidemic.
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