CHINA Wine Sales Jump During Lunar Festival Week

Chinese consumers shrugged aside worries about the financial crisis to spend during the Lunar New Year holiday, according to figures from the Ministry of Commerce. Retail sales during the week rose by 13.8% year-on-year to 290bn yuan ($42.4bn), helped by sales promotions in major cities as well as government subsidies for farmers to purchase home appliances.

The ministry said leading home appliance producers supporting the government-led subsidy programme saw sales surge up 25.6% during the week-long holiday. Traditional purchases of food, cigarettes, liquor and wine, fireworks also rose. Food sales at major retailers was up a strong 23%, beverage sales rose 17.5%, while the combined sales of cigarettes, liquor and wine were up 14.7%.