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City reports biggest sales jump since 2003
By Leo Zhang |
October 7, 2010, Thursday
|
Online Edition
Online Edition
SHANGHAI'S retail sales during the National Day holidays posted the fastest growth since 2003 to a record high as more visitors came to the city thanks to the World Expo while merchants launched a variety of events to lure customers.
More than 5,000 outlets of the city's 470 major retailers saw sales rise 24.4 percent year on year to 7.017 billion yuan (US$1.03 billion) between October 1 and 7, the Shanghai Commission of Commerce said today.
In the past decade, the growth clip was only second to that of 2003, when sales jumped 25.2 percent in the first week of October. This year's turnover jumped 5.3 times from 2000, when the seven-day holiday arrangement began.
The sales growth during the National Day holiday also outshone two other major holidays this year. The week-long Spring Festival holiday logged sales growth of 15.3 percent from a year ago while the three-day May Day holidays saw a rise of 22.1 percent.
"The World Expo, good weather and various activities during the Shanghai shopping and tourism festivals helped boost sales," said Chen Yuxian, an official with the commission.
The annual Shanghai Shopping Festival would drop its curtain today, helping local merchants chalk up sales of 18.07 billion yuan in a 27-day period, up 23.7 percent year on year. The growth pace was up 2.1 percentage points from the same period a year ago.
More than 5,000 outlets of the city's 470 major retailers saw sales rise 24.4 percent year on year to 7.017 billion yuan (US$1.03 billion) between October 1 and 7, the Shanghai Commission of Commerce said today.
In the past decade, the growth clip was only second to that of 2003, when sales jumped 25.2 percent in the first week of October. This year's turnover jumped 5.3 times from 2000, when the seven-day holiday arrangement began.
The sales growth during the National Day holiday also outshone two other major holidays this year. The week-long Spring Festival holiday logged sales growth of 15.3 percent from a year ago while the three-day May Day holidays saw a rise of 22.1 percent.
"The World Expo, good weather and various activities during the Shanghai shopping and tourism festivals helped boost sales," said Chen Yuxian, an official with the commission.
The annual Shanghai Shopping Festival would drop its curtain today, helping local merchants chalk up sales of 18.07 billion yuan in a 27-day period, up 23.7 percent year on year. The growth pace was up 2.1 percentage points from the same period a year ago.
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