Retail sales rise during holiday period
January 30, 2012 Category Retail, Weekly
Shanghai retailers recorded average daily sales of around CNY812 million during the Spring Festival holiday, the best holiday shopping season since 1999. The statistics covered 4,000 stores belonging to 452 large and mid-sized retailers. They reported combined sales of CNY5.69 billion from January 22 to January 28, according to the Shanghai Commission of Commerce. The total sales represent 14% growth from the Spring Festival period in 2011. Nationwide, retail sales for the Spring Festival holiday rose 16.2% year on year, the Ministry of Commerce said. More than 3.1 million tourists visited Shanghai during the holiday, up about 3% from the same period last year, generating CNY2.9 billion in revenue, the Shanghai Tourism Administration said.
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