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Holiday Economy Booms
Millions of holiday travellers and shoppers have forced retailers and service industry enterprises in China's major cities to spend the first part of the new century counting some rather large profits.
On New Year's Eve this year, a number of department stores across the country launched special promotions and extended business hours to midnight and beyond in an effort to fish holiday waters teeming with shoppers.
Their efforts paid off.
Sales volume at the Sogo Department Store in Beijing from December 30, 2000 to January 1, 2001 was a brisk 26 million yuan (US$3.14 million).
As receipts from the Wangfujing Department Store reveal, jewelry, food and clothing were the hottest items during the three-day holiday.
"The sales volume of jewelry on Saturday was 1.52 million yuan (US$183,100), twice that of a normal day," said a Wangfujing store employee.
In Shanghai, consumption hit another climax around New Year's Day.
According to sources with the Shanghai Municipal Commercial Commission, the city's 144 large and medium-sized retail stores realized total sales of 625 million yuan (US$75.6 million) from December 30, 2000 to the first day of 2001, 27.8 per cent higher than the same period last year.
"The consumption peak should be partly attributed to the hype produced by the city's main commercial enterprises," said Chen Yuxian, an official with the commission.
Stores in Nanjing Road, Huaihai Road, Sichuan Beilu and Xujiahui all extended their business hours to 2:00 am on January 1.
Food and garments also topped Shanghai shoppers' lists. In the three days, the city's 17 largest food retailers together raked in 10.84 million yuan (US$1.3 million), 9 per cent more than they made last year. The 14 biggest supermarkets and convenience stores saw revenues increase by 50.5 percent over last year.
According to statistics from the commission, clothing accounted for roughly half of all sales in department stores over the holiday.
The entertainment and catering industries also benefited from the New Year.
Bars along Beijing's Sanlitun Road were nearly bursting with revelers, with many having to turn customers away or make them sit outside. .
"We have waited for seat for almost one hour, but it's worth it. We want to have a fun in the New Year's Eve," claimed Tang Yan, a youngster who was standing outside the Mingda Bar on the big night.
Hotels and restaurants saw large numbers of banquets, some of which had been arranged months in advance.
"Most of our banquets were ordered by new couples who wanted to have a turn-of-the-century wedding. The turnover in the three days is certain to double," said one restaurant owner.
Last, but not least, on the list of groups that scored big over the weekend are travel agencies.
Hundreds of thousands of people took to the road in late December, hoping to pass the New Year in a fun and faraway place.
According to statistics from Guangzhou Holiday Tour Information Center, the city saw roughly 475,500 tourists arrive for the New Year holiday, an increase of 8.43 per cent over the same period last year.
Guangzhou's tourist revenues reached 179 million yuan (US$21.6 million), surging 21.2 per cent. (China Daily)
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