China’s Lunar New Year sees modest rise in consumer spending, early data shows

Consumer spending during China’s Lunar New Year rose modestly this year, according to early official data, as authorities extended the holiday and stepped up stimulus measures to support domestic demand. Average daily sales at major retail and catering firms rose 8.6 per cent year on year over the first four days of the break, Ministry of Commerce data showed. Across 78 pedestrian shopping streets and commercial districts monitored by the ministry, foot traffic and sales revenue grew 4.5 per...

By Mia Nurmamat