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China ‘golden week’ holiday spending rebounds from coronavirus with daily spending up 4.9 per cent on year

Summary:
[unable to retrieve full-text content]A surge in spending over China’s “golden week” holiday has highlighted an encouraging rebound in consumption after the coronavirus pandemic ravaged the economy early in the year.During this year’s eight-day holiday, which combined National Day and the Mid-Autumn Festival, retail and restaurant sales reached 1.6 trillion yuan (US5.5 billion), with daily sales up 4.9 per cent compared to last year’s seven-day holiday, according to a survey conducted by the Ministry of Commerce.China UnionPay,…

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[unable to retrieve full-text content]
A surge in spending over China’s “golden week” holiday has highlighted an encouraging rebound in consumption after the coronavirus pandemic ravaged the economy early in the year.During this year’s eight-day holiday, which combined National Day and the Mid-Autumn Festival, retail and restaurant sales reached 1.6 trillion yuan (US$235.5 billion), with daily sales up 4.9 per cent compared to last year’s seven-day holiday, according to a survey conducted by the Ministry of Commerce.China UnionPay,…

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