![]() Sales nationwide totaled 20.62 billion yuan ($2.87 billion) during the summer vacation, not only a new record but also surpassing the pre-pandemic high of nearly 17.8 billion yuan in 2019.Īs the Chinese economy navigates the post-pandemic recovery landscape, the service sector has emerged as a powerful growth driver, contributing 66.1 percent to economic growth in the first half (H1) of the year Earlier this month, customers scrambled for Luckin Coffee's new Moutai latte, flavored with China's famous liquor, with 5.42 million cups sold on the day it was launched. In August, the catering sector maintained strong momentum with combined revenue up 12.4 percent from a year ago. In particular, contact-based services, which had accumulated huge pent-up demand, registered stellar growth.ĪLSO READ: China's upbeat growth prospects underpin yuan's strength ![]() "The development of the service sector emerged as an important bright spot in economic performance this year," NBS spokesperson Fu Linghui said.Īs the economy and society returned to normalcy, services stifled during the COVID-19 period posted an across-the-board recovery, significantly propping up the economy, Fu noted. ![]() Retail sales in services surged 19.4 percent in the first eight months of the year.ĪLSO READ: China's economic recovery set to gain further momentum The country's service production index went up 6.8 percent year on year in August, accelerating from 5.7 percent the previous month, data from the National Bureau of Statistics (NBS) has showed. (PHOTO / XINHUA)īEIJING - From cinemas to restaurants, China's service sector has bounced back this year from a pandemic-induced downturn and played a greater role in sustaining the recovery of the broader economy. People dine at the Fushansuo Market in Shinan District of Qingdao, east China's Shandong province, Aug 7, 2023.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |