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China: China's Lunar New Year Holiday Retail Up 16%

By Anonymous
Publication: Asian Textile Business
Date: Saturday, April 1 2006

According to an announcement made by the Chinese Ministry of Commerce, both the supply and consumption of goods during the Chinese lunar New Year holiday was very brisk this year. Consumer goods retail sales during the long holiday from January 29th to February 4th were 190 billion yuan (RMB), up

15.5% from the same holiday season last year. The announcement noted that consumption expanded considerably not only in the urban areas, but also in rural areas as well. The announcement also said that liquor, tobacco, accessories and clothing sold two times higher than on ordinary days. Furthermore, a considerable leisure-oriented consumption at sports gyms, fitness centers, teadrinking places and hot-spring resorts were mentioned in the announcement.

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