New Year sales boom, lux­ury goods down

China Daily (Canada) - - NEWSCAPSULE -

China’s con­sumer mar­ket boomed dur­ing the first days of the Lu­nar New Year hol­i­day de­spite fall­ing lux­ury gift sales, ac­cord­ing to the Min­istry of Com­merce (MOC).

In the first four days of the week-long Spring Fes­ti­val hol­i­day, the most im­por­tant tra­di­tional hol­i­day in China, con­sumer mar­ket sales ex­panded steadily and quickly, the MOC said in a state­ment on its web­site.

With­out giv­ing na­tion­wide fig­ures, the MOC said con­sumer mar­ket sales in the cities of Bei­jing and Chengdu had risen by 9.2 per­cent and 13 per­cent year on year re­spec­tively.

Ex­perts have viewed the drop in lux­ury good sales as a di­rect re­sult of the cen­tral gov­ern­ment’s anti-graft and fru­gal­ity cam­paign.

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