Spring Festival holiday retail sales expected to rise 10 pct
Share - WeChat
BEIJING - Total earnings of retail and catering enterprises in China are expected to surge by 10 percent year on year during the week-long Spring Festival holiday starting from Feb 15, Ministry of Commerce said Tuesday.
Sales revenue of these enterprises could reach 900 billion yuan (about 143 billion US dollars) during the 2018 Spring Festival holiday period, Vice Minister of Commerce Wang Bingnan told a press briefing.
China's domestic demand has steadily expanded, with consumption contributing 58.8 percent to economic growth in 2017, nearly four percentage points higher than five years ago.
Meanwhile, the added value of the service sector accounts for 60 percent of GDP, more than five percentage points higher than five years ago.
- Labubu lights up Shanghai lantern show
- Cherry blossom festival in Yongfu town celebrates agricultural innovation and cultural exchange
- China's first domestically built cruise ship welcomes its 1 millionth guest
- The Devil Still Dances: High Vigilance against Japanese Militarism's Infiltration in Sports and Culture Fields
- 189 historical artifacts of Japanese invasion donated to museum in NE China
- Death toll rises to 8 in North China factory explosion

































