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Retail sales strong over New Year

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Blizzards in Beijing were no barrier to shoppers who spent their New Year on a buying spree.

Data from 127 major retailers in the city show total sales volumes hitting 2.1 billion yuan over the 3-day break, up 25 percent from the same period last year. The largest single contributor was purchases of home appliances, with sales of these products going up more than 50 percent.

Analysts say strong sales reflect consumer confidence in incomes, and that they expect consumption to remain one of the major drivers of the economy for the year.

The General Chamber of Commerce is also predicting a rise of 20 percent in total retail sales by the end of the year, on the back of fiscal stimulus measures.

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