Economy
Holiday rebound good news for all economic sectors
Updated: May 5, 2023
chinadaily.com.cn/Xinhua
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Consumption
Revenues from consumption-related sectors jumped by 24.4 percent year-on-year over the May Day holiday, the State Taxation Administration said on Thursday.
According to overall figures calculated via value-added tax invoices over the holidays, the consumption of both services and commodities increased by 28.7 percent and 19.5 percent, respectively, year-on-year.
Sales revenues from tourism exhibitions and entertainment services both expanded 3.2 times over the same period last year during the holiday. In particular, sales revenues from amusement parks, partially due to last year's low base effect, increased 11 times year-on-year.
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