Despite critics of the Chinese economy, the country has shown significant economic vitality throughout this year's Mid-Autumn Festival holiday.
Sluggish holiday economy?
Travel surged during the three-day holiday, with single-day cross-regional people movement averaging approximately 205 million, marking a 28.2% increase from the same period in 2023, according to China's Ministry of Transport. On the first day alone, China's transportation sectors handled some 215.92 million passenger trips, up 37.9% year-on-year.
Apart from the travel surge, consumer confidence is on the rise, and the Chinese market exhibited robust vitality, particularly in sectors such as catering, food, and entertainment. Data from China's e-commerce platform Douyin shows an 88% week-on-week increase in searches for \"family reunion meals\" from September 7 to 13, while service platform Meituan revealed a 433% increase in searches for \"Mid-Autumn restaurants.\"
A series of consumer promotion activities further stimulated market consumption levels. Some restaurants even hired individuals to cosplay Chang'e, the goddess of the Moon in Chinese mythology, to deliver mooncakes to guests. This cross-industry collaboration not only celebrated Chinese tradition but also fueled a strong recovery in the holiday economy.
Reference(s):
cgtn.com
