China: Tax figures show strong consumption in holiday

(MENAFN) Figures from China’s tax authorities demonstrated that the country’s household expenditure kept steady expansion in the National Day holiday as service consumption maintained growth.

The value-added invoice figures issued by the State Taxation Administration showed that the daily average sales proceeds of wholesalers and retailers in China surged 9.9 percent year over year and 25.4 percent from 2019, in the holiday lasting from Oct. 1 to Oct. 7.

During the seven-day holiday, sales proceeds of supermarkets and convenience stores climbed 12.9 percent and 3.8 percent from a year earlier, each.

Online services kept growing during the holiday, as sales proceeds for internet-supported daily life services jumped 28.5 percent year over year and 29.5 percent from the 2019 level. Specifically, food delivery services witnessed a considerable annually rise of 30.2 percent.

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