Chinese splurge 9% more to US$1.76b during May Day

Source: Xinhua | May 4, 2009, Monday |

Print Edition

China's retail sales climbed 9 percent from a year ago to about 12 billion yuan (US$1.76 billion) during the three-day May Day holiday, the Ministry of Commerce said yesterday.

The estimate was based on sales from Friday to yesterday at 1,000 major domestic retailers monitored by the ministry. It said robust sales were reported for gold, jewelry, home appliances and autos, as retailers launched promotion campaigns.

Sales of gold and other jewelry rose 19.6 percent, the ministry said, without giving specific figures.

However, it said Beijing Caishikou Department Store, a major gold retailer in the capital, saw its sales nearly double to 14.3 million yuan on Friday alone.

Sales of appliances, such as LCD TVs, air conditioners, refrigerators and laptops increased 11.4 percent, while those of automobiles grew 9.2 percent.

Consumer

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Chinese splurge 9% more to US$1.76b during May Day

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