Zhang Deyong is a researcher at the Institute of Financial and Economic Strategy, Chinese Academy of Social Sciences
Lively and lively to welcome the New Year, happy and happy New Year. During the Spring Festival of the Year of the Dragon, family reunions, visits to relatives and friends, temple fairs, lantern appreciation, and cultural tourism experience ......The strong flavor of the New Year presents a joyful scene of the New Year, filled with the joyful atmosphere of saying goodbye to the old and welcoming the new, which also accelerates the recovery of the consumer market and releases the consumption potential in a concentrated manner, adding energy to the continuous recovery of China's economy.
The mobile China has set off a wave of consumption heat. According to the data of the 2024 comprehensive transportation Spring Festival transportation work class, during the Spring Festival holiday from February 10 to 17, the cross-regional flow of people in the whole society is expected to reach 231.1 billion passengers. The super-large-scale population flow reflects the vitality of the super-large-scale market. According to the data center of the Ministry of Culture and Tourism, the 8-day national domestic tourism during the Spring Festival holiday is 47.4 billion person-times, a year-on-year increase of 343%, an increase of 19. on a comparable basis compared to the same period in 20190%；The total cost of domestic tourists is 63268.7 billion yuan, a year-on-year increase of 473%, an increase of 7. on a comparable basis compared to the same period in 20197%。Go to the north to enjoy the snow, go to the south to spend a warm year, or come to a relaxing and comfortable peripheral tour, short trip ......Affected by multiple favorable factors such as policy, supply and publicity, urban and rural residents' willingness to travel is high, and many indicators such as the number of trips and the total cost of travel have reached a record high, and the consumption of goods and services such as retail, catering, accommodation and other goods is "steaming", which shows the huge potential of the super-large-scale market and once again confirms the strong resilience and vitality of China's economy.
The surging "national tide" has created a new trend in the consumer market. One of the prominent features of the Spring Festival consumer market in the Year of the Dragon is the strong rise of the "national tide". The combination of traditional Chinese culture and consumption quality upgrading has endowed consumption with new content, added new consumption scenarios, and injected new impetus into consumption. This Spring Festival, with the blessing of the "dragon" element, the "national tide" is surging, wearing Hanfu and Tang costumes, visiting thousand-year-old streets, tasting Chinese food, appreciating traditional arts, etc., immersively experiencing traditional Chinese culture, which not only reflects the people's yearning for a better life, but also shows our firm cultural self-confidence, and at the same time brings fire to the consumer market. With the transformation of consumption from physical consumption to physical consumption and service consumption, the characteristics of development-oriented consumption and enjoyment-oriented consumption are becoming more and more obvious, and residents' consumption is increasingly diversified, personalized and quality-oriented, and the close combination of material consumption and spiritual consumption is more pursued. The "national tide" consumption of the Spring Festival in the Year of the Dragon shines, expressing the new consumption proposition of a new generation of young people, becoming a new force to release the consumption potential, and providing continuous positive energy for the accelerated recovery of the consumer market.
New supply of consumption activates new demand for consumption. The Spring Festival is one of the most important consumption seasons of the year. The "fireworks" rising in the Spring Festival consumer market in the Year of the Dragon are also due to the new trend of consumption upgrading and the creation of new consumption supply. In view of the changes in residents' lifestyles and better meeting the people's growing needs for a better life, multiple departments have introduced measures to promote consumption during the Spring Festival. The Ministry of Commerce promotes the linkage between urban and rural markets and online and offline linkages, and jointly organizes activities such as the Online New Year Goods Festival and the "Rural Shopping Happy Gathering" with multiple departments, and carries out a series of themed activities around new consumption such as digital, green and health. The Ministry of Culture and Tourism organized and carried out the Spring Festival-themed cultural and tourism activities of "Happy New Year", and jointly launched a series of "Village Evening" display projects with various localities. Focusing on the consumption characteristics of "green and healthy", the General Administration of Sports of the People's Republic of China has taken the holding of high-level events and accelerating the improvement of ice and snow service levels as the starting point to promote the accelerated development of ice and snow sports consumption. The new supply of consumption has created a new hot spot for consumption, which will help meet the needs of ordinary people to improve the quality and upgrade of consumption, activate new consumption demand, and provide new materials for greater release of consumption potential.
Festive consumption is an important window to observe China's economic trend. The Spring Festival consumer market in the Year of the Dragon has reached a new high, and a series of data is the best proof of this. For example, according to the preliminary statistics of the National Film Administration, during the Spring Festival holiday from February 10 to 17, the national film box office was 801.6 billion yuan, and the number of moviegoers was 16.3 billion, an increase of 18 percent at the box office and number of people during the Spring Festival holiday in 202347% and 2636%, both of which set a new record in the same period. Consumption is the main engine of China's economic growth and plays a fundamental role in economic growth. The hot consumer market during the Spring Festival in the Year of the Dragon not only means that the strong consumption vitality continues to promote the expansion and quality of the consumer market, but also shows the good momentum of China's economy continuing to rebound.
The plan of the year lies in the spring. With consumption as a powerful leverage, we will continue to exert efforts from both ends of supply and demand, further release the consumption potential, focus on expanding domestic demand, consolidate and enhance the economic recovery trend, and continue to promote the economy to achieve effective qualitative improvement and reasonable quantitative growth.
Editor: Gao Peining, Jiang Xinyu, Cai Xiaojuan.