China’s consumption-related industries’ sales revenue rose 24.4% on year in May Day holiday – tax administration
DATA MACRO
China’s consumption-related industries’ sales revenue rose 24.4% on year in May Day holiday – tax administration
DATA MACRO

China’s consumption-related industries’ sales revenue rose 24.4% on year in May Day holiday – tax administration

 

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During the May Day holiday, the sales revenue of China’s consumption-related industries increased by 24.4% from a year earlier, according to the value-added tax invoice data released by the State Taxation Administration. 

Of that, service consumption and physical goods consumption rose by 28.7% and 19.5%, respectively, reflecting an increase in residents’ willingness to spend, said the administration.