Trade: Restaurant spending impulses sales
(Shanghai Daily)
Updated: 2006-07-26 14:39
Shanghai's retail sales rose 13.1 percent in the first half of this year to
165 billion yuan (US$20.60 billion), compared with the same period a year
earlier, as Shanghai residents spent more in dining out, Shanghai Evening Post
reported today.
People spent 27.9 percent more in restaurants, contributing 21.56 billion
yuan in the period, which plays an important role in the city's retail sales.
The surge in second-hand vehicles sold also stimulated the city's retail
sales. From January to May, 48,000 second-hand cars were sold in the city's
seven trade markets, growing 77.2 percent. Retail sales in the automobile
industry totaled 92 billion yuan, growing 5.6 percent.
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