Chinese splurge on Labour Day holiday
Chinese love to spend money. According to the Ministry of Commerce, during the three-day May Day holiday, which ended yesterday,China's retail sales climbed to about 12 billion yuan (US$1.76 billion), up nine percent a year ago. The key sectors drawing those cash are reportedly as gold,jewelry, autos and home appliances, all of which have been preparing promotion campaign since mid April. For example, BMW and Honda are both offering discounts as high as 6000 yuan(US$879), and Chinese auto manufactures, such as Tianjin Faw Xiali Automobile, are offering perk packages from tax subsidies to lottery. But on the other hand, China's jobless rate hit the record high in the first quarter as 4.3 percent(rural area excluded), according to the central government. source:xinhua, auto.ifeng.com
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- News Source: Xinhuanet.com | 6 months agoChina's retail sales climbed 9 percent from a year ago to about 12 billion yuan (1.76 billion U.S. dollars) during the three-day May Day holiday, the Ministry of Commerce said Sunday. The estimate was based on sales from May 1 to May 3 at 1,...
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Video Source: youtube.com - Video Source: youtube.comJobless Rate Jumps to 7.2 ...Video Source: youtube.comThe nation's unemployment rate bolted to 7.2 percent in December, the ...
- Video Source: youtube.comJobless Rate Bolts to 8.1 ...Video Source: youtube.comThe nation's unemployment rate bolted to 8.1 percent in February, the .....
i think the prizes and sales promotions really kicked in and fueled common spending.
Falling job rates is still a point to worry
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