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255 billion yuan spent during Spring Festival holiday
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16:32, February 13, 2008

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Consumers spent 255 billion yuan (US$ 34.9 billion) during the week-long Spring Festival holiday despite the worst snow havoc in half a century.

China's retail sales, the country's key gauge of consumer spending, surged 16 percent, up from 219.8 billion yuan in the same period last year, the Ministry of Commerce reported on its website.

The Ministry attributed the surge to the country's efforts to increase market supply and stabilize prices.
China's government vowed, before the holiday, that it would maintain a stable market and that there would not be a shortage in the necessary commodities for the general public due to the heavy snow that blanketed much of the country.

According to a market monitoring report released recently by the Ministry of Commerce, high-end household appliances, digital products, jewelry and thick overcoats were hot sellers in China's major cities.

By People's Daily Online



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