During the recent National Day holiday from October 1 to October 7, China's consumption market experienced remarkable growth. Daily sales revenue in consumption-related sectors surged by 25.1% year on year, as reported by value-added tax invoice data from the State Taxation Administration.
The entertainment sector was a standout performer, with China's film industry generating over 2.1 billion yuan ($300 million) in box office revenue. A total of 52.09 million movie tickets were sold, according to the National Film Administration.
Travel and tourism also saw steady growth, recording 765 million domestic passenger trips over the seven-day holiday. This represents a yearly increase of 5.9% compared to the previous year and a 10.2% growth compared to the same period in 2019.
Reference(s):
cgtn.com
