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VAT invoice data reflects China's robust Spring Festival holiday consumption

NAMPA / Xinhua
2025-02-05
BEIJING, Feb. 5 (Xinhua) -- China's State Taxation Administration released value-added tax (VAT) invoice data on Wednesday, revealing strong consumer spending during the Spring Festival holiday. The eight-day holiday, which ended on Tuesday, saw the average daily sales revenues of consumer-related industries increase 10.8 percent from last year's Spring Festival. Goods consumption grew 9.9 percent year on year, and services consumption saw......
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