China’s holiday consumption market posts steady growth-Xinhua
BEIJING, Oct. 4 (Xinhua) -- Consumer spending across China is holding steady midway through the seven-day National Day holiday, with early data pointing to stable growth that reflects the economy's underlying vitality. In the first three days of the holiday from Oct. 1 to 3, foot traffic and revenue at 78 major shopping streets and commercial districts monitored by the Ministry of Commerce rose 3.4 percent and 5.3 percent year on year, respectively. Notably, the government's consumer goods trade-in program drove 19.63 billion yuan (about 2.91 billion U.S. dollars) in sales over the same period, benefiting 3.48 million consumers. In breakdown, the program drove trade-ins of 46,000 vehicles, generating 7.45 billion yuan in new car sales, along with 1.51 million home appliances worth 6....