Consumption booms during Spring Festival holiday

Online transactions:

China's online transactions saw a robust increase in both volume and value during the eight-day holiday, data from Chinese online payment clearing house NetsUnion Clearing Corporation, and card payment giant China UnionPay showed on Sunday.

The two platforms handled an average of 2.63 billion online transactions each day from Feb 9 to 17, up 18.6 percent from the previous Spring Festival holiday season.

The daily average transaction value involved increased 8 percent from the previous holiday period to hit 1.25 trillion yuan.

The searching volume of words such as "The Year of Loong" and "new Chinese-style" saw a rise on e-commerce platforms before the holiday. Data from JD.com showed that the sales of intangible cultural heritage goods including lanterns, New Year paintings, and embroideries jumped by 9.6 times, 175 percent and 166 percent year-on-year, respectively. The search volume of "New Year's greeting clothes" on Taobao increased by 560 percent year-on-year.