Mainland's Golden Week spending growth dips - RTHK
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Mainland's Golden Week spending growth dips

2019-02-11 HKT 12:31
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  • The holiday spending this year topped a trillion yuan, but there were signs that the splurge was restrained as the mainland welcomed the Year of the Pig. Photo: AP
    The holiday spending this year topped a trillion yuan, but there were signs that the splurge was restrained as the mainland welcomed the Year of the Pig. Photo: AP
Mainland Chinese spent more than a trillion yuan shopping and eating during the Lunar New Year holidays, but the period also recorded the slowest spending growth in almost a decade.

The Lunar New Year holiday is traditionally a time for travelling, dining out and giving gifts for the Chinese.

The Ministry of Commerce said retailers and caterers on the mainland earned 8.5 percent more for the week-long period from Lunar Near Year's Eve to Sunday, compared to the previous Golden Week. Last year the growth rate was 10.2 percent.

The increase in spending this year was mainly thanks to sales of traditional foods, electronic products and local favourites.

State news agency Xinhua said domestic tourism during the break generated total revenues of 514 billion yuan, up 8.2 percent on the year.

Top overseas destinations for mainland residents this Lunar New Year were Thailand, Japan, Vietnam, South Korea, Singapore, Malaysia, the United States, Hong Kong, Macau and Taiwan, Xinhua reported.