China's Consumer Market Thrives During Spring Festival

Throughout this year's Spring Festival holiday from February 10 to February 17, China's consumer market brimmed with vitality, showcasing the resilience and dynamism of the Chinese economy to the international community.

Tourism

As per the Ministry of Culture and Tourism, 474 million tourists spent 632.69 billion yuan (about 87.5 billion U.S.dollars) during the Spring Festival holiday, marking a significant increase compared to the years 2023 and 2019.

Food and beverage

During this year's Spring Festival holiday, online orders for food and beverages, as well as hotels and travel, surged by 36% and 19% year on year, respectively. Concurrently, offline consumption growth for snacks and fast food rose by 59% and 35%, respectively.

Commodities

During the New Year Shopping Festival, spanning from January 18 to February 6, online retail sales amounted to nearly 800 billion yuan, marking an 8.9% increase compared to the same period in the preceding lunar year.

Transportation

Data from the Ministry of Transport reveals that from February 10 to February 17, cumulative inter-regional passengerflow reached 2.3 billion. Within this movement tapestry, railway passengers, road passengers, waterway voyagers, and civil aviation travelers totaled 99.59 million, 2.18 billion, 9.4 million, and 18.04 million, respectively.

Film industry

The national box off ice revenues soared to a record high of 8 billion yuanduring the 2024 Spring Festival season.