(Yicai) March 16 -- China’s consumption growth accelerated in the first two months of the year, supported by the longest Chinese New Year holiday on record, laying a solid foundation for stable consumption growth throughout the year, the National Bureau of Statistics said today.

The country’s total retail sales of consumer goods reached CNY8.6 trillion (USD1.2 trillion) in January and February, up 2.8 percent from a year earlier and 1.9 percentage points faster than the growth recorded in December, according to NBS data. Retail sales of services rose 5.6 percent from a year earlier, 0.1 percentage point higher than the growth for the whole of last year.

During the nine-day Lunar New Year holiday from Feb. 14 to Feb. 23, the number of domestic trips in China approached 600 million and total travel spending exceeded CNY800 billion (USD116 billion), both setting record highs. The expansion of visa-free entry policies also increased inbound tourism and supported domestic consumption, NBS spokesperson Fu Linghui said at a press conference today.

Looking ahead, the upgrading of residents’ consumption structure and the emergence of new consumption drivers will remain key forces supporting consumption growth, while a series of pro-consumption policies are expected to provide further support, Fu said.

Retail sales of tourism consulting and rental services, as well as cultural and sports leisure services, both maintained relatively fast growth of more than 10 percent in the first two months, Fu noted. During the Chinese New Year holiday, spending on dining out also increased notably, with catering industry revenue rising 4.8 percent from a year earlier, 2.6 percentage points faster than in December, he added.

In addition, as China continues its consumer goods trade-in subsidy program this year, retail sales of communication equipment rose nearly 18 percent in the first two months from a year earlier, while sales of household appliances and audio-visual equipment increased over 3 percent, according to the NBS.

In the next stage, China will further advance its special action plan to boost consumption, formulate measures to increase the incomes of urban and rural residents, and continuously improve the consumption environment, Fu said. The country will also seek to unlock consumption potential in areas such as culture and tourism, sports events, and healthcare to better promote economic circulation and improve livelihoods, he added.

Editors: Dou Shicong, Emmi Laine