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VAT invoice data Reflects Vibrant Consumption during the Spring Festival Holiday
Updated: Feb 13, 2025
STA General Office
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Daily revenue increased by 10.8% in consumption-related industries in the Spring Festival holiday against the same period of last year, with goods and service consumption rising 9.9% and 12.3% respectively, according to data analysis based on the VAT invoice. Supported and stimulated by the Chinese government's trade-in programs, household appliances, and home furnishing products saw rapid growth. Tourism, culture, arts, and sports services met robust demand, while sales of grain, oil, and food products maintained a relatively strong momentum.
