Gome Electrical Appliances Holding, the mainland's biggest home appliance retail chain whose shareholders yesterday approved a full takeover of the company, expect Golden Week sales to double last year's.
Executive director Du Juan said strong sales showed the retail sector had been unaffected by mainland interest rate rises.
'Our stores were open until midnight [on Labour Day] and the spending ability of mainland consumers remained strong,' Ms Du said.
She said she was confident sales for Golden Week would exceed last year's.
'What we are unsure of is whether we achieved double or triple on last year,' she said.
The robust result came just days after the People's Bank of China raised its benchmark one-year lending rate by 27 basis points to 5.85 per cent on Thursday, further tightening the country's credit policy to slow the overheating economy.
Ms Du said increasing disposable income on the mainland would offset the impact of austerity measures on the retail sector.