China's State Taxation Administration released value-added tax (VAT) invoice data on Tuesday, revealing strong consumer spending during the 2026 Spring Festival holiday.
The nine-day holiday, which ended Monday, saw the average daily sales revenues of consumer-related industries increase by 13.7 percent from last year's Spring Festival holiday.
Revenue from household appliance sales rose 19 percent from the previous Spring Festival holiday, while motor vehicle charging revenue surged 163.9 percent.
The tourism market experienced robust growth this year, with tourism-related service revenue up 39.6 percent. Catering consumption also saw a significant increase of 31.2 percent.
The Spring Festival, which is also known as Chinese New Year, fell on Feb 17 this year. It is usually a period of vibrant consumption activities as people return home for family reunions or travel to tourist destinations to celebrate the holiday.
VAT invoice data reflects China's robust Spring Festival holiday consumption
China's online transactions saw a remarkable increase in both volume and value during the just-concluded Spring Festival holiday, data from the People's Bank of China (PBOC) showed on Tuesday.
From Feb 15 to 23, Chinese online payment-clearing house NetsUnion Clearing Corporation and card payment giant China UnionPay processed approximately 39.3 billion online transactions totaling 13.12 trillion yuan (about 1.9 trillion U.S. dollars), according to the PBOC.
Compared to last year's Spring Festival holiday period, the average daily number of transactions rose by 37.45 percent and the average daily value of transactions by 19.26 percent.
The PBOC data also showed that in the same comparison period, the average daily value of transactions that inbound travelers made using the two platforms increased 78.1 percent in volume and 44.33 percent in value.
The Spring Festival, which is also known as Chinese New Year, fell on Feb 17 this year. It is usually a period of vibrant consumption activities as people return home for family reunions or travel to tourist destinations to celebrate the holiday.
China's online transactions rise during Spring Festival holiday
