China News Service, Beijing, October 8 (Reporter Zhao Jianhua) Tax data released by the State Administration of Taxation of China on the 8th showed that during the just-concluded National Day holiday, service consumption across the country was strong, and the average daily sales revenue of related industries increased by 19.5% year-on-year. Consumption of some commodities was good, with sales of household appliances, digital electronics, kitchen and bathroom products increasing at a relatively high rate.
Before reaching the above conclusion, the State Administration of Taxation used VAT invoice data to analyze the sales revenue of consumer industries related to the National Day holiday. Data shows that during the National Day holiday, the tourism consumption market continued to gain momentum, with sales revenue from tourism and entertainment services increasing by 23.6% year-on-year. Among them, travel agency services and amusement parks increased by 26.2% and 41.2% respectively. Driven by tourism consumption, demand for diversified accommodation has been released, with economic chain hotels and homestay services growing by 6.3% and 12.8% respectively.
Data shows that during the National Day holiday, family dinners, wedding banquets, etc. drove strong catering consumption, and catering service sales revenue increased by 9% year-on-year. Among them, the economic prosperity of specialty food streets and night markets has promoted snack services to grow by 15.5%; fast food services have grown by 30.6%, providing convenience for consumers to travel and dine.
During the National Day holiday, the fields of culture, sports, and entertainment continued to diversify the supply of new business formats and new scenes, effectively promoting the development of the consumer market. Concerts, cultural performances, folk activities, etc. were held in many places, driving cultural and artistic service sales revenue to increase by 20.9% year-on-year. Among them, literary and artistic creation and performance services and public cultural and sports activities increased by 21% and 28.3% respectively.
During the National Day holiday, affected by factors such as the release of some funds for trade-in subsidies for consumer goods before the holiday, the intensive launch of new digital products, and the intensive release of household replacements during the long holiday, the sales revenue of household appliances and audio-visual equipment increased by 40.1% year-on-year. Among them, the retail sales of daily household appliances such as refrigerators and washing machines increased by 40.6%, and the retail sales of household audio-visual equipment such as TVs increased by 36.6%.
The data also shows that during the National Day holiday, self-pleasant consumption has become a new growth pole, and consumption of pet services, fitness and shaping, beauty and hairdressing has been stimulated, driving the sales revenue of residents' pet services, fitness and leisure activities, hairdressing and beauty services to grow rapidly.
