Initial figures show record travel, shifting spending patterns and a weak box office
Average daily sales at major retail and catering firms rose 8.6 per cent year on year over the first four days of the break, Ministry of Commerce data showed.
Across 78 pedestrian shopping streets and commercial districts monitored by the ministry, foot traffic and sales revenue grew 4.5 per cent and 4.8 per cent, respectively, over the first three days.
On the holiday’s first day, those figures had surged 23.2 per cent and 33.2 per cent year on year. More comprehensive official data will be released on Tuesday.
Ahead of the break, the Ministry of Commerce launched a nationwide consumption campaign, with local governments allocating 2.05 billion yuan (US$297 million) in shopping vouchers, subsidies and cash incentives.
