Golden week sees retail sales surge
十一黃金周零售量激增

China’s National Day holidays, a.k.a the golden week, has wrapped up with sales in retail and dining pocketing in 870 billion yuan, or 142 billion U.S dollars.

Golden week saw a big jump in China’s domestic consumption, adding a much needed kick to the country’s slowing economy.

Statistics from China’s Ministry of Commerce show sales of retail and catering businesses rallied by almost 14 percent during the holidays year on year.

Hainan island, a popular travel destination has seen its sales surge by as much as 19 percent over the same period last year.

"There is very obvious effect on consumption. Sales of clothing, digital electronics, and home appliances are all very encouraging. This shows Chinese people are prompted by the holiday spirit to buy durable goods, and trendy clothes. "said Zhao Ping, Deputy Director of Consumer Economy Research Dept.of MOFCOM.

However, some worry that strong domestic demands could push up prices, exacerbating inflationary pressure. Official data show, the prices for vegetable rose 3.2 percent over the holidays.

But Zhao said overall prices are still stable, with pork rising mildly, and soybean oil falling a little.

"After the holidays, demands would fall slightly, so inflationary pressure should start to ease."said Zhao.

A big rise in sales with moderate price increases are signs for a healthy economy. But many in China are still hoping for a more enjoyable holiday experience, Quality services and less crowded tourist attractions may be the goal for the next golden week.