Industry News

BEIJING, May 6 (Xinhua) -- The sales revenue of China's consumption-related industries rose 14.3 percent year on year during the May Day holiday, reflecting a further release of consumption potential, value-added tax (VAT) invoice data showed Wednesday.

The data, released by the State Taxation Administration, pointed to strong consumer demand for tourism, entertainment, cultural and sports services.

Sales revenue of tourism, sightseeing and entertainment services rose 21.2 percent year on year, while cultural services and sports services registered sales revenue increase of 42.3 percent and 44.1 percent year on year, respectively.

Life services maintained sound growth, with sales revenue of household services increased by 14.2 percent year on year.

Among them, laundry services, pet services and automobile repair and maintenance services saw their sales revenue increase 38.1 percent, 49.5 percent and 12.6 percent, respectively.

Health-related consumption also increased, with sales revenue of health services for residents up 40.1 percent year on year, while health consultation services related to healthcare and health management rose 40.5 percent and fitness and leisure services increased 28.7 percent.

Catering and accommodation consumption grew rapidly, as many localities launched distinctive catering activities during the holiday.

Sales revenue of catering services rose 31.4 percent year on year, with snack services, bar and teahouse services, and full-service restaurants up 41.6 percent, 51.5 percent and 26.8 percent, respectively.

Goods consumption also gained momentum, with sales revenue of general retails up 12.4 percent year on year.

Offline retailers such as supermarkets improved consumer experience by optimizing consumption scenarios, driving their sales revenue up 15.6 percent year on year.

Quality goods consumption posted strong growth, as sales revenue of cosmetics, gold and silver jewelry, and arts and crafts rose 55.8 percent, 28.8 percent and 57.4 percent, respectively.

Huang Lixin, an official with the administration, said VAT invoice data showed that consumption continued to heat up during the May Day holiday, with consumption potential effectively released.

As policy measures to promote service consumption continue to take effect, service consumption is upgrading and maintaining strong momentum, injecting robust impetus into high-quality economic development, Huang said.