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CHINA PRESS: Spending by consumers during the week-long Chinese New Year
holidays cooled from a year ago, according to a report by investment bank CICC
- Retail and restaurant sales grew 8.5% y/y, while tourism spending rose 8%,
compared with 10.2% and 13% last year;
- Box office sales reached CNY5.06 billion for the first six days of the
holiday, rising 2.7% y/y, down from 66% gain last year;
- Sales of cars, housing and land also slowed from last year.