IT IS spending time. Chinese demand and purchasing power are always amazing, and have proven to be enough to support the country's robust economic growth.
According to statistics from the China Commercial Information Centre, 100 key retailers across the country realised combined sales of 2.1 billion yuan (RM965mil) during the week-long Spring Festival holidays.
Data from the monitoring network under the Ministry of Commerce showed that sales rose by 16.9% year-on-year.
The retail sales of 114 Beijing retailers recorded over 1 billion yuan (RM479mil), a rise of 8% during the holiday.
More than 3,000 outlets of Shanghai's 263 large- and medium-sized retailers sold goods worth 2.43 billion yuan (RM1.1bil), increasing by 10.4%.
Retail sales in China's western region of Xi'an grew by 14% in that period, and those in Wuhan in central China rose 12.2%.
Retailers are enjoying the Lunar New Year as local residents spent more than ever on dining out, as well as buying high-end electrical appliances and expensive jewellery.
The Shanghai Economic Commission reported that the city's 105 biggest restaurants and hotels served New Year's Eve dinners to 10,453 tables of customers, an increase of 4.4% from last year.
Revenues from that night hit 12.7 million yuan (RM5.8mil), up 9.4% from last year, with an average table paying 1,214 yuan (RM559) for the meal.
Sofitel Hyland Hotel, a four-star hotel on Nanjing Road, said dinner sales jumped by 136.6% on New Year's Eve.
The commission also reported that monkey-shaped gold jewellery and statues were a popular gift to mark the start of the Year of the Monkey.
Food sales jumped by 40.6% year-on-year in the first seven days, sales of watches and clocks saw sales went up 24% and home appliance retailers saw sales rose by 21%, the commission said.
In Beijing, restaurants not only reaped profits from dinner sales but also in sales of ready-to-cook food.
Flowers was another favourite for Beijing residents.
A total of 100 million floral products were sold during the week. – China Daily
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