Total earnings of retail and catering enterprises in China are expected to surge by 10 percent year on year during the week-long Spring Festival holiday starting from Feb. 15, Ministry of Commerce said Tuesday.
Sales revenue of these enterprises could reach 900 billion yuan (about 143 billion U.S. dollars) during the 2018 Spring Festival holiday period, Vice Minister of Commerce Wang Bingnan told a press briefing.
China’s domestic demand has steadily expanded, with consumption contributing 58.8 percent to economic growth in 2017, nearly four percentage points higher than five years ago.
Products include green food, jewelry, gourmet and health food are among the most popular products during the holiday season. Food sales in Jiangxi, Qinghai and Shandong province were up by 27.5%, 16% and 12.7% respectively. Sales of green food in Qingdao and Baoding were up by 18.7% and 40% respectively. (Source: qq.com)