Movie Ticket Sales in China Rise by 80 Percent During Spring Festival Holiday
Charissa Echavez | | Feb 16, 2016 06:49 AM EST |
(Photo : Getty Images) Movie ticket sales across Chinese cinemas went up by as much as 80 percent during first three days of the Lunar New Year, with total revenue almost equivalent to last year's week-long income.
Cinema ticket sales across China saw an incredible 80 percent increase during Spring Festival holiday, which began on Feb. 8. Other retail shops as well as restaurants also experienced a rise in patronage.
The total movie ticket sales in the first three days of the Lunar New Year almost tallied with the total sales of the week-long holiday in 2015, according to the released statement of Ministry of Commerce on Saturday.
Like Us on Facebook
Of the cities, people in Shanghai spent the most, reaching an average of 2,600 yuan ($400) per capita.
Meanwhile, as mentioned earlier, restaurants and retail shops were also on demand, with sales up by 11.2 percent during the week compared with that of last year. Among the commodities sold are food, alcohol, tobacco and clothes. Unsurprisingly, monkey-themed jewelries as well as high-end gadgets were also hot on the market.
During the Golden Week holiday -- between Feb. 7 and 13 --- total revenues in sales and catering surged to approximately 754 million ($115 million). The Spring Festival in China is very crucial for retailers, who reach out to clients by offering various discounts and promotions. During the holidays, millions of people get a chance to take some time off to travel, and they usually spend more money than the usual.
China was once known as "the world's factory." However, since last year, the country's services and retail industry have countered the trend of tepid industrial improvement as the country attempts to shift its economy into a consumer-led model. For the first time, at 50.5 percent, services earned over half of the gross domestic product of the country last year.
Tagsmovie tickets, Retail industry, service industry, Spring Festival China, china
©2015 Chinatopix All rights reserved. Do not reproduce without permission
EDITOR'S PICKS
-
Did the Trump administration just announce plans for a trade war with ‘hostile’ China and Russia?
-
US Senate passes Taiwan travel bill slammed by China
-
As Yan Sihong’s family grieves, here are other Chinese students who went missing abroad. Some have never been found
-
Beijing blasts Western critics who ‘smear China’ with the term sharp power
-
China Envoy Seeks to Defuse Tensions With U.S. as a Trade War Brews
-
Singapore's Deputy PM Provides Bitcoin Vote of Confidence Amid China's Blanket Bans
-
China warns investors over risks in overseas virtual currency trading
-
Chinese government most trustworthy: survey
-
Kashima Antlers On Course For Back-To-Back Titles
MOST POPULAR
LATEST NEWS
Zhou Yongkang: China's Former Security Chief Sentenced to Life in Prison
China's former Chief of the Ministry of Public Security, Zhou Yongkang, has been given a life sentence after he was found guilty of abusing his office, bribery and deliberately ... Full Article
TRENDING STORY
-
China Pork Prices Expected to Stabilize As The Supplies Recover
-
Elephone P9000 Smartphone is now on Sale on Amazon India
-
There's a Big Chance Cliffhangers Won't Still Be Resolved When Grey's Anatomy Season 13 Returns
-
Supreme Court Ruled on Samsung vs Apple Dispute for Patent Infringement
-
Microsoft Surface Pro 5 Rumors and Release Date: What is the Latest?