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China retail earnings up 8.5 percent during new year holiday, Commerce Ministry says

China’s retailer and catering starches earned over 1 trillion yuan ($148.3 billion) during the Lunar New Year holiday, defying an economic recede to rise 8.5 percent from last year, the country’s commerce ministry said late on Sunday.

The multiply was down to the rapid growth in sales of new-year gifts, traditional foods, electronic products and local speciality goods over a six-day holiday period ending on Saturday, the Ministry of Commerce said in a notice on its website.

Domestic tourism during the new year break generated total revenues of 513.9 billion yuan, up 8.2 percent on the year, with the number of trips take to the air 7.6 percent to 415 million, the official Xinhua news agency said on Sunday, citing official facts.

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