China said retail sales surged 16.2 percent year on year to 470 billion yuan ($74 billion) during the week-long Lunar New Year holiday, as consumers splashed out on food, wine and clothes. Hundreds of millions of people journey across the country during the holiday to celebrate with their families and consumer spending typically soars during the period. The commerce ministry said sales of clothes, jewellery and food rose 18.7 percent, 16.4 percent and 16.2 percent respectively, according to a statement posted on its website Saturday, the last day of the holiday. The number of passenger trips on trains, planes, boats and buses was expected to reach 3.2 billion during the peak travel period from January 8 to February 16, up 9.1 percent from last year. Authorities warned snow and rain in parts of southern and southwestern China could disrupt road and rail links as millions of people returned to work in the major cities, the Global Times reported.
Mfarhanonline News
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