The May Day mini-holiday this year saw steady operation of consumption markets across the country with rapid sales growth, improved quality of goods and services consumption, and abundant supplies and stable prices of daily necessities.

First, consumption of goods upgraded. Sales of fashion wear, smart appliances, new digital devices, green and energy-saving products and outdoor sports goods boomed, with emerging business types such as shopping malls, outlets and online retail experiencing rapid sales growth. Consumption increased in both big and medium-sized cities. For instance, commerce businesses on Beijing’s watch list reported sales revenues of RMB 3.22 billion, up by 6.5% year-on-year in daily average terms. Shanghai, Shaanxi and Sichuan all grew by over 10%.

Second, services consumption flourished. Tourism, leisure, catering, culture and sports, among other services continued to thrive. According to the estimates of the Ministry of Culture and Tourism, over 195 million domestic tourists travelled in China during the mini-holiday, up by 13.7% in comparable terms; tourism revenues stood at RMB 117.67 billion, up by 16.1% year-on-year. Popular and time-honored specialty restaurants were wooed, while catering in places of interest of tourism cities became hotspots. For example, the revenues of catering businesses on Xi’an’s watch list were up by 17.1% year-on-year. Chengdu’s 20 brand caterers reported revenues growth of 11% year-on-year.

Third, market supplies were abundant and stable in price. Daily necessities were in abundant supply across the country with rich varieties and stable prices overall. The prices of grains and cooking oil at MOFCOM-monitored wholesale farmers’ market rose slightly amidst stability. More specifically, the price of pork rose by 0.1% on the previous week; the prices of beef and lamb were down by 0.2% and 0.1%; the price of eggs was up by 1.5%; and the average price of 30 kinds of vegetables was up by 0.5% on the pre-holiday week. Thank you.