Golden Week Retail Sales Up 14%

on October 8 2013 | in Lifestyle Retail Travel | by | with No Comments

Chinese New Year, China, Chinese lanterns, red lanterns,

Golden Week, China’s weeklong national holiday, has become a major shopping and travel event. Retail sales surged 14 percent to 870 billion yuan ($142 billion), according to the Ministry of Commerce.

Higher spending was largely a result of heavy discounting with clothing, shoes, jewelry, electronics and home appliances among the most popular items with local consumers.

Travel is popular during Golden Week. According to the Civil Aviation Administration of China (CAAC), the number of air travelers increased by nearly 16 percent to 7.7 million. The China Tourism Academy noted that Chinese tourists who traveled overseas spent 65 percent on shopping during the past week.

image credit: bokeh & travel

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