Janurary 1, 2024

China's three-day New Year's Day holidays, which ended on Monday, saw a consumer market boom with bustling travel and spending activities across the country, according to various data on Monday, offering more vivid displays of sustained vitality and vast potential in China's consumption market, the biggest driver for economic growth.

The busy scenes across China - from a square in Southwest China's Chongqing packed with New Year's Eve revelers to record numbers of ice and snow enthusiasts in Harbin in Northeast China's Heilongjiang - all pointed to a solid start for China's economic recovery in 2024, particularly the rebound in consumption, analysts said on Monday.

Meanwhile, many localities have further stepped up efforts to boost spending, as they doled out consumption vouchers to spur spending, part of a broad national campaign to boost domestic consumption. Amid such efforts, consumption will continue to see a steady recovery in 2024 and will in turn lift the overall economic recovery process, analysts noted. 

Read more:

https://www.globaltimes.cn/page/202401/1304616.shtml