This article**: The people**.
People** 2024-02-21 Edition 03).
The Spring Festival is the most important traditional festival in China and a key barometer for measuring consumption. The fiery Spring Festival economy has made a good start for China's economy to take advantage of the momentum this year.
During this year's Spring Festival holiday, the cross-regional flow of people in China has increased significantly, and the consumer market is full of vitality. "Hundreds of millions of people have taken trains, planes, and other means of transport to travel to reunite with family and friends. This is a reflection of the vitality of China's economy", "The Spring Festival reflects the vitality of China's economic development, and the large-scale flow of people drives the expansion of consumer demand, injecting impetus into the good start of China's economy this year......".The international community has seen the resilience and vitality of China's economy through the Spring Festival.
The Spring Festival is the most important traditional festival in China and a key barometer for measuring consumption. During the Spring Festival holiday, China's domestic tourism and total expenditure both achieved a significant year-on-year growth, the national film box office and the number of moviegoers set a new record in the same period, and the average daily sales revenue of the national service consumption-related industries increased by 52% year-on-year3%。All this allows the world to see a vibrant and steaming China, and strengthens the confidence of the international community in China's economic development. International** continues to pay attention to China's consumption data during the Spring Festival, believing that "tourism and consumption during the Spring Festival exceeded pre-pandemic levels, further indicating that consumption in the world's second-largest economy is improving", and "the surge in consumer spending and travel during the Spring Festival is a boost to China's economy".
From cross-border trains such as the China-Laos Railway and the China-Europe Express carrying "New Year's goods" to the 24-hour busy large ports; From foreign trade enterprises that are busy with orders and production, to more than 1,800 cross-border e-commerce overseas warehouses and ...... in more than 220 countries and regions around the worldThe Spring Festival also witnesses the enthusiasm of China's opening up and cooperation with other countries. With the continuous expansion of China's visa-free "circle of friends", inbound and outbound tourism continues to heat up. During the Spring Festival, China's national border inspection authorities guaranteed a total of 1,35170,000 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. Chinese and foreign tourists "go in both directions", making the Spring Festival the peak period of global tourism consumption, which is a vivid footnote to the win-win cooperation between China and other countries. According to an article published by Asia Travel & Tourism Magazine, the strong recovery in China's travel data during the Chinese New Year reflects not only the resilience of the tourism industry, but also the effectiveness of the strategic measures taken.
The Spring Festival conveys joy and peace to the world, and China's economy brings warmth to the world. Against the backdrop of multiple uncertainties in the global economy, China's GDP will grow by 5% year-on-year in 20232%, showing a steady and positive trend. Recently, a number of financial institutions around the world released their 2024 economic outlook reports, all of which believe that the foundation for China's economic stabilization and recovery will be further consolidated, and technological innovation and industrial transformation will continue to stimulate endogenous momentum. According to the report released by UBS, China adheres to high-quality development and pays attention to the role of domestic demand, and green economy and high-tech will become new growth drivers. The Goldman Sachs Group report believes that China's economic development will enter a more stable stage. Singapore's Tharman Shanmugaratnam recently pointed out that despite the challenges, China's fundamental strength is undoubted, and it is still growing and consolidating. He believes that China's strong manufacturing system and export competitiveness, as well as its abundance of talent, including engineers, scientists, and a growing skilled workforce, are strong strengths.
The fiery Spring Festival economy has made a good start for China's economy to take advantage of the momentum this year. In the new year, China will fully implement the new development philosophy, accelerate the construction of a new development paradigm, promote high-quality development, and consolidate and strengthen the positive momentum of economic recovery. As Spanish market analyst and columnist Julio Ceballos pointed out, as long as we persist in deepening reforms, continue to expand opening up, give better play to the advantages of education and scientific and technological innovation, and fully tap the potential of the domestic market, China's economic development will have a strong foundation.