National Day holiday retail sales grow 21% from previous year
6 October 2008
China's retail sales rose 21% to US$61 billion during the week-long National Day holiday versus the same time period last year, state media reported, citing data from the Ministry of Commerce. More than 18.29 million people traveled throughout the country, a 13.2% year-on-year increase, according to statistics from the National Tourism Administration. Retail sales in July grew 23.3% year-on-year, representing the fastest one-month growth seen in nine years.
For an in-depth look at China's ongoing retail sales boom, read CER's October cover story.