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Chinese New Year consumption soars as COVID eases up

Retail and catering sales increase 29%, and moviegoers set box office record

China's consumer spending is expected to grow 7% during the year of the ox as the country recovers from the coronavirus.   © Reuters

SHANGHAI -- Chinese consumer spending soared during the Lunar New Year holidays, especially at online retailers, though travel expenditures were subdued due to COVID-19-induced restrictions.

Total retail and catering sales from Feb. 11 to Wednesday increased 29% from last year's holiday period to 821 billion yuan ($128 billion), the commerce ministry revealed on Wednesday, as many restaurants in cities offered special takeout fare for customary New Year's Eve reunion dinners.

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