Translation. Region: Russian Federation –
Source: People's Republic of China in Russian – People's Republic of China in Russian –
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Source: People's Republic of China – State Council News
BEIJING, Feb. 25 (Xinhua) — Data on value-added tax (VAT) invoices showed strong consumer spending during the Spring Festival holiday, or Chinese New Year, according to the General Administration of Taxation.
According to the agency, during the recent nine-day holiday, which lasted from February 15 to 23, average daily sales revenue in sectors related to the consumer market increased by 13.7 percent compared to the same period last year.
In particular, revenue from sales of household appliances increased by 19 percent, and revenue from the use of charging stations for electric vehicles increased by 163.9 percent year-on-year.
High growth rates were also recorded in the tourism market: revenues from tourism-related services increased by 39.6 percent. Meanwhile, revenues in the catering sector increased by 31.2 percent.
"These data confirm the viability and potential of the domestic consumer market," stated Huang Lixin, Director of the Tax Research Institute of the General Administration of Taxation. He added that the strong performance during the holidays lays a solid foundation and strengthens confidence in maintaining the positive economic momentum this year. -0-
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