East China’s Jiangsu province reported a 5.3% year-on-year growth in the sales of social consumer goods in January and February, latest statistics show.
Statistics from the Provincial Bureau of Statistics shows that from January to February, Jiangsu reported a total retail sales of 725.44 billion yuan of consumer goods, a year-on-year increase of 5.3%.
Sales of new energy vehicles and household appliances showed strong momentum, up 62.8% and 30.5% year-on-year.
Li Hui, Associate Researcher at the Institute of Economics, Jiangsu Academy of Social Sciences, introduced that the increase in the consumption of new energy vehicles has benefited from the policy support in the province and the increasing consumer demand for green and environmentally friendly vehicles. The increase in the consumption of household appliances is attributed to the upgrading of consumer demand for household appliances, and factors such as environmental protection and high-end intelligence are becoming the main reference indicators for consumers.
The province reported 239.84 billion yuan in retail sales, up 7% year-on-year and 15.83 billion yuan in catering sales, a year-on-year increase of 5.2%.
Jiangsu has also given full play to the role of the Beijing Winter Olympics by integrating ice and snow sports into the scene layout and special activities to stimulate consumption in scenic spots, catering and accommodation.
In terms of catering and cultural tourism consumption, Jiangsu will encourage regional governments to carry out various forms of consumption promotion activities, continue to temporarily refund the tourism service quality deposit at a 20% discount, and allocate 10 million yuan to provide interest subsidies for loan projects of provincial tourism industry development fund.
