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


Source: scmp.com scmp.com

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China’s retail and restaurant sales reached 1.6 trillion yuan (US$235.5 billion) over the ‘golden week’ holiday, with daily sales up 4.9 per cent compared to last year The rebound in consumption will be a shot in the arm for China, which has until recently relied on debt and construction to recover from the coronavirus pandemic Strong spending over China’s ‘golden week’ holiday shows a recovery in the retail and restaurant sectors that was hard hit by the coronavirus pandemic early this year. A surge in spending over China’s “golden week” holiday has highlighted an encouraging rebound in consumption after the...