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China’s Spring Festival spending rebounds beyond pre-pandemic level: MOFCOM

2021-02-18 08:39:21       source:Global Times

Febuary 17, 2021

Total revenue made by key companies in retail and catering sectors rose 28.7 percent year-on-year during this year’s Spring Festival holidays from Feb 11 to 17, reaching around 821 billion yuan ($127.1 billion), according to China’s Ministry of Commerce on Wednesday. 

The figure has exceeded the Spring Festival holiday spending in 2019 by 4.9 percent, prior to the COVID-19 pandemic. 

According to the Ministry of Commerce, China’s consumer market has demonstrated “robustness” and “vitality” under the normalized pandemic control measures and the request for people not to travel during the holidays.

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