China holiday retail sales surge

Last Updated: Tue, Oct 09, 2012 06:50 hrs

Beijing, Oct 8 (IANS) China's retail and catering industries saw a surge in sales during the eight-day national holiday, driven by demand for jewelry, clothes, home appliances and banquets, Xinhua reported Monday.

The combined sales of major retail and catering enterprises in the country rose by 15 percent to 800.6 billion yuan (about $126.3 billion) during Sep 30 - Oct 7 holiday compared with the same period last year, according to the commerce ministry.

The sales were strong considering China's economic slowdown, and were driven by short-term government stimulus measures such as a policy to exempt expressway tolls for certain types of cars in the holiday, said professor Wang Jinbin of Renmin University.

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