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Agricultural Development Bank of China
Economy

Tax data reveals robust consumption during holiday

October 11, 2021


Abstract : China's household spending maintained stable growth during the National Day holiday as service consumption continued to expand, data from tax authorities showed.

Customers buy vegetables at a supermarket in Danzhai County, southwest China's Guizhou Province, Aug. 9, 2021. (Photo by Yang Wukui/Xinhua)

BEIJING, Oct. 10 (Xinhua) -- China's household spending maintained stable growth during the National Day holiday as service consumption continued to expand, data from tax authorities showed.

The daily average sales revenue of wholesalers and retailers in the country rose 9.9 percent year on year and 25.4 percent from 2019, during the holiday lasting from Oct. 1 to Oct. 7, according to the value-added invoice data released by the State Taxation Administration.

Over the seven-day holiday, sales revenue of supermarkets and convenience stores increased 12.9 percent and 3.8 percent from a year ago, respectively.

Online services continued to expand over the holiday, as sales revenue for internet-supported daily life services surged 28.5 percent year on year and 29.5 percent from the 2019 level. In particular, food delivery services saw a significant yearly increase of 30.2 percent.

Tax data also showed sales revenue of services related to culture and art soared 51.6 percent year on year.

Known as a "golden week" in China, the National Day holiday is usually a peak shopping season, as people travel and reunite with family members during the holiday.

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Keyword: consumption

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