The market in Jiading district has been booming due to a sharp rise in the businesses of shops, restaurants, and passenger transportation during the Spring Festival in the Year of Horse.
The purchasing power of consumers and tourist enthusiasm weren’t phased by continuous rain late in the day during the Spring Festival. The prosperous market promoted the fast growth of the consumption.
According to preliminary data collected by district economic departments, the sales volume of 20 key retail business enterprises broke their previous record at 740 million yuan, which stood at the top of all the suburban counties in Shanghai, and exceeded the average level of Shanghai by 5.8 percent, with a 14.6 percent year on year growth rate.
Lao Fengxiang’s Jewelry Store and Old Temple Gold achieved a sales volume of 15.86 million yuan in 14 days, with an 8.2 percent year-on-year growth rate, which indicates that jewelry and gold were still traditional hot commodities during the Spring Festival.
Due to the ban on “sky-high price” New Year's Eve dinners during the Horse Year’s Spring Festival, a lot of restaurants released “cost-efficient” New Year's Eve dinners which attracted more consumers with their 1,200 yuan average price, and boosted sales volumes while dining table numbers increased by 12 percent and 27 percent respectively.
Edited by Lin Hong and Roger Bradshaw