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China’s Golden Week retail sales up 4.5% YoY

According to the Ministry of Commerce’s business data, during the National Day holiday (October 1 to 7), key retail and catering enterprises nationwide saw a sales increase of 4.5% YoY based on comparable figures. Additionally, foot traffic in key pedestrian streets and commercial districts grew by 12.5% YoY. As of October 7, the ministry’s vehicle trade-in platform had received over 1.27 million subsidy applications, leading to new car sales exceeding 160 billion RMB ($21.76 billion). In the appliance sector, 8.24 million consumers purchased 11.78 million units across eight major categories, generating sales of over 55.7 billion RMB ($7.58 billion). During the seven-day holiday, 2.52 million consumers bought over 3.74 million appliances, with sales reaching 17.84 billion RMB ($2.43 billion).

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