China's Golden Week spending slows despite growth in tourism

Shopping rises in single digits, while box office revenue plunges

20181009N Chinese tourists (REUTERS)

Tourists crowd the Bund, Shanghai's iconic waterfront, during China's weeklong vacation for National Day.

NAOKI MATSUDA, Nikkei staff writer

SHANGHAI -- China's weeklong National Day holiday, dubbed "Golden Week," raked in roughly 1.4 trillion yuan ($202 billion) for the domestic retail and dining sectors this year, down from 1.5 trillion yuan in 2017.

While this year's Oct. 1-7 holiday was one day shorter than last year, sales on a daily basis also lacked steam. The country's Ministry of Commerce said average daily sales grew 9.5%, which was below last year's 10.3%.

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