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Commercial giant Wanda Plaza welcomes robust holiday visits, sales

Abstract : Chinese commercial building chain Wanda Plaza reported booming foot traffic and sales during the recent May Day holiday, echoing the country's robust consumption recovery thanks to effective anti-COVID-19 efforts.

BEIJING, May 6 (Xinhua) — Chinese commercial building chain Wanda Plaza reported booming foot traffic and sales during the recent May Day holiday, echoing the country’s robust consumption recovery thanks to effective anti-COVID-19 efforts.

The vast retail complex network under Chinese conglomerate Wanda Group said its 369 plazas across China had registered some 140 million visits during the five-day holiday. Its total sales revenue hit 11.1 billion yuan (about 1.71 billion U.S. dollars) during the period as consumers visited the plazas to shop, dine and watch movies, among other activities.

During the May 1-May 4 period, consumer visits soared 46 percent year on year and the network’s total sales revenue spiked 65 percent compared with 2019, before COVID-19.

The number of tickets sold by the group’s Wanda cinemas expanded approximately 30 percent over 2019. The group said it plans to open 50 new Wanda Plazas this year.

Its robust performance echoed the rosy national consumption picture. Data from domestic card payment giant China UnionPay shows the transaction value on its platform registered a record high of 1.5 trillion yuan in the first four days of the holiday.

The successful holiday was a booming start for the country’s monthlong campaign to promote consumption as China has effectively brought COVID-19 under control. Enditem

About Xinhua Silk Road

Xinhua Silk Road (en.imsilkroad.com) is the Belt and Road Initiative (BRI) portal.China’s silk road economic belt and the 21st century maritime silk road website,includes BRI Policy,BRI Trade,BRI Investment,Belt and Road weekly,Know Belt and Road,and the integrated information services for the Belt and Road Initiative (BRI).

Source: Commercial giant Wanda Plaza welcomes robust holiday visits, sales

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