Shanghai's holiday retail sales jump nearly 11 percent

Higher spending in department stores and shopping malls drives increase in sales

Retail sales in Shanghai rose 10.7 percent year on year during the Mid-Autumn Festival and National Day holiday driven by spending in department stores and shopping malls, the Shanghai Commission of Commerce said in a statement today.

A sample of 400 major retailers and restaurants in Shanghai revealed they reaped 11.16 billion yuan (US$1.68 billion) of sales during the eight-day holiday from October 1 to today.

Sales in Changning District led other districts with a growth of 29.8 percent while Pudong New Area posted a 21.5 percent rise.

Convenience stores suffered a drop in sales but department stores, shopping malls, supermarkets, and specialty stores all posted a sales increase, the commission's data showed.

Eight major shopping malls in Shanghai saw their sales grow over 20 percent year on year.

Sales of Shanghai food jumped more than 20 percent while sales of electric appliances fell 12.2 percent and those of indoor decoration materials shed 7.4 percent as the real estate market cooled, the statement said.

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