Home>Latest

Zhejiang sees consumption boom during holiday

(ezhejiang.gov.cn) Updated : 2020-10-10

VCG111301840534_副本.jpg

People browse cellphones at a flagship electronics store in Hangzhou on Oct 8. [Photo/CFP]

East China's Zhejiang province saw a consumption boom during the Mid-Autumn Festival and National Day holiday, according to economic data released by the Zhejiang Provincial Department of Commerce on Oct 9.

The more than 70,000 enterprises sampled from 10 key consumption sectors in the province generated 8.57 billion yuan ($1.28 billion) in operating revenue during the eight-day holiday, up 8.4 percent and 17.3 percent, respectively, from the same period last year and from this year's May Day holiday.

Year-on-year revenue growth was achieved in seven of the 10 key sectors, namely accommodation, shopping complexes, catering, auto retail, businesses along pedestrian streets, supermarkets, and marketplaces. The three highest growth rates were seen in accommodation (32.5%), business complexes (25.7%), and catering (24.9%).

The sampled hotels had an average occupancy rate of 59.81 percent during the eight-day holiday. Some of them, such as a number of rural homestays and resorts, were fully booked throughout the holiday.

Zhejiang's nighttime economy performed particularly strongly during the holiday. Commercial sites across the province hosted a variety of culture and entertainment activities, attracting many visitors. Over the eight-day holiday, the province's restaurants, pedestrian streets, and shopping complexes raked in 59 percent, 54 percent, and 45 percent of their operating revenues, respectively, at night.