May Day holiday brings revenue increases in consumption-related sectors

Figures from China's State Taxation Administration show that revenues from consumption-related sectors jumped by 24.4 percent year-on-year over the May Day holiday, the administration said on Thursday.

The administration said that, according to overall figures calculated via value-added tax (VAT) invoices over the holidays, which ended on Wednesday, the consumption of both services and commodities increased by 28.7 percent and 19.5 percent year-on-year respectively, a sign that people's willingness to buy has increased.

Sales revenues from tourism exhibitions and entertainment services both expanded 3.2 times over the same period last year during the holiday. In particular, sales revenues from amusement parks, partially due to last year's low base effect, increased 11 times year-on-year.

Source from State taxation administration of the P.R.C.

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