china retail sales surge 16% during spring festival
China's retail sales, the country's key gauge of consumer spending, surged 16 percent during the weeklong Spring Festival holiday despite the worst winter storms in half a century.
Consumers spent 255 billion yuan (34.9 billion U.S. dollars), up from 219.8 billion yuan in the same period last year, the Ministry of Commerce reported on its website. ... High-end household appliances, digital products, jewelry and thick overcoats became hot sellers in major cities.