China National Day holiday retail sales up 16pc
Wednesday, 10 October 2007
SHANGHAI, Oct 9 (AFP): Retail sales in China during the week-long National Day holiday from October 1 totalled nearly 350 billion yuan (47 billion dollars), up 16 per cent from a year earlier, state media said today.
The growth rate was 1.5 percentage points higher than a year earlier, the China Securities Journal reported, citing figures from the ministry of commerce.
China introduced three annual "Golden Weeks" in 1999, also including the traditional Spring Festival early in the year and the May 1 Labour Day holiday.
The purpose was to lift the economy at a time when it was reeling from the impact of the Asian financial crisis.
The growth rate was 1.5 percentage points higher than a year earlier, the China Securities Journal reported, citing figures from the ministry of commerce.
China introduced three annual "Golden Weeks" in 1999, also including the traditional Spring Festival early in the year and the May 1 Labour Day holiday.
The purpose was to lift the economy at a time when it was reeling from the impact of the Asian financial crisis.