Consumption during the Spring Festival in the Year of the Dragon reflects the vitality of China s ec

Mondo Finance Updated on 2024-02-18

On February 10, the flower street of the ancient city of Wuhu, Anhui Province was full of tourists. Xinhua News Agency.

CHANGSHA, Feb. 18 (Xinhua) -- The Spring Festival of the Year of the Dragon is the first time that 45-year-old Singaporean Liu Jinfa has celebrated the New Year in China. On the 28th of December, Liu Jinfa and his family of five rushed back to his wife's hometown of Changde City, Hunan Province, from Singapore. During the Spring Festival, they pasted Spring Festival couplets together, set off fireworks, visited shopping malls, visited relatives, and experienced the Chinese New Year flavor at zero distance.

The mall is very popular, there are many activities, and the New Year's flavor is very strong. He said that it was inconvenient for children to move around before, but he didn't expect the Chinese New Year to have such an atmosphere, and he planned to come to China for the New Year every year in the future. Thanks to the recent signing of an agreement between China and Singapore on mutual visa exemption for ordinary passport holders, he can now stay in China visa-free for 30 days.

From the start of the Spring Festival on January 26 to February 16, the number of people entering and exiting the Hunan Border Inspection Station was 7More than 30,000 people, an increase of 11 over the same period last year3 times, of which foreign tourists increased by 28 compared with the same period last year6 times.

According to the National Immigration Administration, a total of 1,351 border inspection agencies across the country will be guaranteed during the Spring Festival holiday in 202470,000 Chinese and foreign personnel entered and exited, with a daily average of 1.69 million passengers, an increase of 2 compared with the same period of the Spring Festival in 20238 times, recovering to nearly ninety percent of the same period in the Spring Festival in 2019.

With the continuous expansion of China's 'visa-free circle of friends', it is becoming more and more convenient for Chinese citizens to leave the country, and many foreigners want to use the visa-free policy to experience traditional Chinese culture in Hunan during the Spring Festival, so the passenger flow of 'two-way travel' during the Spring Festival of the Year of the Dragon has increased significantly. The relevant person in charge of the Border Inspection Department of the Hunan Entry-Exit Border Inspection General Station said.

On February 10, tourists visited Tianjin Ancient Culture Street. Photo by Xinhua News Agency reporter Zhao Zishuo.

This year, the Chinese New Year holiday has become the peak period for global tourism consumption. According to the report released by Ctrip, both outbound and inbound travel orders exceeded the same period in 2019, especially inbound travel increased by 48% compared to 2019.

Wang Yalei, an industry analyst at Ctrip Research Institute, said that from New Year's Day to the Spring Festival, cultural and tourism consumption continued to maintain a high popularity, reflecting the huge potential of domestic consumption.

According to the data of the Ministry of Culture and Tourism, the holiday is 8 days, and the national domestic tourism is 47.4 billion person-times, a year-on-year increase of 343%;The total cost of domestic tourists is 63268.7 billion yuan, a year-on-year increase of 473%。According to data from the Ministry of Commerce, during the New Year Festival from January 18 to February 6, online retail sales were close to 800 billion yuan, an increase of 8 percent over the same period last year9%。

During the Spring Festival, the flow of billions of people in China and the "cultural tourism fever" also injected momentum into the Spring Festival film market in the Year of the Dragon. According to the data released by the National Film Administration on February 18, the box office of Spring Festival movies in 2024 will reach 801.6 billion yuan, creating a new box office record for the Spring Festival.

On February 4, in Henglongqiao Village, Henglongqiao Town, Heshan District, Yiyang City, Hunan Province, children participated in the Spring Festival activities. Photo by Xinhua News Agency reporter Chen Sihan.

Domestic "trendy products" with dragon elements continue to be popular and become a consumer fashion during the Spring Festival in the Year of the Dragon. Foshan Nanfeng Ancient Kiln Scenic Area is famous for its pottery history of more than 1,000 years, attracting a large number of intangible cultural heritage inheritors and original craftsmen to gather, nearly 1,000 enterprises and nearly 500 brands to settle in. From the first day to the seventh day of the Lunar New Year, the number of people entering the scenic spot reached more than 60,000, a year-on-year increase of more than 1 times.

Mountains and seas are ...... by the Little Green Dragon and Dragon Horse Spirit SetThe "dragon element" ceramic products in the scenic area have become the first choice for domestic and foreign tourists to shop. "Visitors and sales have nearly tripled compared to usual, and the evening hours have been extended by nearly four hours, and there are too many online and offline orders to do. Zeng Yingda, the manager of the firewood burning studio in the scenic spot, said.

The catering market has also ushered in a consumption upsurge. Before the holiday, the Chinese New Year's Eve dinner market was the first to heat up, and in Beijing, Shanxi, Guangdong, Hunan and other places, some restaurants were fully booked a week or two ago.

During the Spring Festival, the time-honored Shunde Yang Tingji is full, and there is a long queue during the peak period, and the Shunde snacks such as Shunde double skin milk, ancient salted smoked chicken, Fengcheng hand-made fish cakes, and Fengcheng beef offal soup make tourists full of praise. "Recently, business has been booming, with more than 1,000 queues per day and an average of more than 3,000 people per day. Yang Shaonian, the successor of Yang Tingji in Shunde, said.

According to data from Meituan and Dianping, in the first five days of the Spring Festival holiday, the number of orders for multi-person dine-in** nationwide increased by 161% compared with last year, and the number of orders contributed by consumers from other places increased by 186%.

The pursuit of green health, highlighting the diversity of personality, highlighting cultural characteristics and favoring scientific and technological intelligence have become the new characteristics of consumption during the Spring Festival in the Year of the Dragon.

Suning Tesco data shows that since the launch of the "New Year's Festival" on January 5, the customer flow of stores across the country has increased by 206% year-on-year, and trade-in has become a new trend of consumption, with the order volume increasing by 153% year-on-year.

According to the relevant person in charge of Suning Tesco, the demand for house cleaning and removing old cloth during the Spring Festival has surged, and the sales of cleaning appliances such as sweeping robots, floor scrubbers, and intelligent window cleaning robots have become hot, with a month-on-month increase of more than 221%. The consumption of household appliances has rapidly extended from the first- and second-tier markets to the low-tier market, and the "filial piety consumption" of improving household appliances has heated up for the elderly. Among them, green intelligence, large-screen color TVs, and large-capacity refrigerators have become popular options.

Looking at the whole country, all localities have taken advantage of the Spring Festival ** week to continuously enrich the supply of cultural tourism according to local conditions, superimposed the introduction of ** policies with various themes, and continued to stimulate the vitality of market consumption with "real gold**", so that the consumer market in the Year of the Dragon is hot.

On February 4, diners bought snacks in a "small shop" in the food street of Dongguashan Night Market in Yunan Street, Tianxin District, Changsha City. Photo by Xinhua News Agency reporter Chen Zeguo.

During the Spring Festival, major shopping malls and shopping malls in Changsha, Hunan Province launched a variety of New Year-themed activities, and various New Year's goods and other preferential activities took turns. Tianxin District "May Day Business District" is one of the most prosperous business districts in Changsha, the relevant person in charge of the management committee Tan Zijie introduced, from the first day of the Lunar New Year to the seventh day of the Lunar New Year, the cumulative passenger flow of the whole business district reached 42250,000 people.

Zhejiang Province, in conjunction with a number of financial institutions and online life platforms, issued hundreds of millions of yuan in "exclusive consumption vouchers for New Year's goods"; Guangxi organized and carried out the 2024 Guangxi Year of the Dragon Happy New Year Carnival activity, focusing on the five themes of festivals, New Year's goods, New Year's flavor, New Year's customs, and New Year's fun, and carried out more than 500 ** activities; In Tianjin, Jinan, Xi'an and other places, the "Chinese style" with the dragon element as the core has become an indispensable part of the local lantern festival.

Li Jiwei, vice president of Meituan Research Institute, said that during the Spring Festival holiday in the Year of the Dragon, consumption in many life service industries such as food, housing, transportation, travel, shopping and entertainment improved, which made a good start for the annual consumer market and also demonstrated the potential of domestic demand. At the same time, the effect of new consumer agglomeration areas and festivals created in various places in promoting consumption is becoming more and more significant, cross-format linkage scenarios are emerging, online and offline marketing methods are constantly renovated, and the consumer market is expected to continue to heat up.

*:Xinhua.

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