How did Chinese spend their money during the weeklong holiday?

Liu Min China Plus/China Daily Published: 2018-10-09 16:39:45
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More Chinese are using mobile payment during their travels on holidays. [from IC]

More Chinese are using mobile payment during their travels on holidays. [from IC]

New and growing spending models, such as mobile payment and online shopping, and emerging ways to travel, such as tailored tours, have helped bolster domestic consumption, pushing retail and food service sales to 1.4 trillion yuan ($202 billion) during the past weeklong National Day holiday, the Ministry of Commerce said in a statement this week.

Analysts said the changes in spending and travel show that the country's updated consumption structure will help boost overall national economic growth.

The average daily retail and catering sales were up by 9.5 percent year-on-year during that period, according to the ministry.

Sales of products that reflect an updated consumption structure, such as organic food, smartphones and smart home furnishings and vehicles, have registered fast growth, the statement added.

Sales of some ultra high-definition televisions with large screens surged by five times year-on-year during that period, and the sales of water purifiers, washer-dryer combinations, air conditioning and smart toilet lids grew 100 to 200 percent year-on-year, the statement said.

Trends such as internet shopping and ordering food online remained popular. During last week's holiday, the sales of some e-commerce platforms expanded by more than 20 percent year-on-year, and orders placed with online food sites monitored by the ministry jumped more than 50 percent year-on-year, it added.

Take a listen to the discussion between Ryan Price and Liu Min, hosts on Studio+, a daily talk show produced by China Plus.

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