Strong Demand for Services and Goods During National Day Holiday

Analysis of sales revenue in sectors related to the National Day holiday, based on value-added tax invoice data from the State Taxation Administration, shows robust demand for services and strong growth in goods consumption nationwide. Sales of home appliances, digital electronics, kitchenware, and other categories saw significant increases. The tourism market remained highly active, with travel sightseeing and entertainment service revenues rising 23.6% year-on-year; travel agency services and amusement parks grew by 26.2% and 41.2%, respectively. Driven by tourism, diverse accommodation needs were met, with budget chain hotels and homestays increasing by 6.3% and 12.8%, respectively. Dining consumption surged due to family gatherings and weddings, boosting catering service revenues by 9%. Sales of home appliances and audio/video equipment rose 40.1%, including a 40.6% increase in daily appliances like refrigerators and washing machines, and a 36.6% rise in home audio-visual devices such as televisions. Communication device sales, including mobile phones and smartwatches, jumped 119.8%, while kitchenware and bathroom fixtures sales climbed 52.3%. (CCTV News)