29Jan/120
China retail sales get holiday boost
Retail sales in China surged 16.2 percent year-on-year to 470 billion yuan during the week-long Lunar New Year holiday, as consumers splashed out on food, wine and clothes. Hundreds of millions of people journey across the country during the holiday to celebrate with their families and consumer spending typically soars during the period. The commerce ministry said sales of clothes, jewellery and food rose 18.7 percent, 16.4 percent and 16.2 percent respectively.