You are here

China's Lunar New Year retail growth slows to 11%: Ministry

334380567.jpg
Growth in China's retail sales during the Lunar New Year holidays slowed to 11 percent from 13.3 per cent during the same period last year, the Ministry of Commerce said on Wednesday.

[SHANGHAI] Growth in China's retail sales during the Lunar New Year holidays slowed to 11 percent from 13.3 per cent during the same period last year, the Ministry of Commerce said on Wednesday.

China's retailers and caterers posted sales of 678 billion yuan (S$147 billion) over the Chinese New Year holiday period, between Feb 18 and Feb 24 this year, data from the ministry showed.

Retailing during China's most important holiday of the year has benefited from the growth of e-commerce and many businesses used online platforms such as WeChat and Weixin to promote holiday specials, the ministry said on its website.

REUTERS

sentifi.com

Market voices on:

grab

Receive $80 Grab vouchers valid for use on all Grab services except GrabHitch and GrabShuttle when you subscribe to BT All-Digital at only $0.99*/month.

Find out more at btsub.sg/promo

Powered by GET.comGetCom