Consumption Increase Observed After Surge During China's National Day Holiday
China's National Day seven-day holiday kicked off with a significant increase in travel and consumer spending, indicating a robust seasonal uplift in economic activity. Various international media sources noted that this increase is a positive sign for China's tourism and consumption sectors.
TroibNews 
China's National Day seven-day holiday kicked off with a notable surge in travel and consumer spending, indicating a robust seasonal uptick in economic activity.
Various international media outlets have pointed out that this increase serves as an encouraging sign for China's tourism and consumption industries.
On Tuesday, marking the start of the holiday from October 1 to October 7, cross-regional travel in China surpassed 330 million trips, reflecting a 48.1 percent rise compared to the previous period, as reported by the Ministry of Transport. This figure also represents over a 30 percent increase relative to pre-COVID-19 travel levels in 2019.
Bloomberg noted that this rise in travel is recognized as "early signs of a consumer spending pickup" in the world's second-largest economy.
This travel boom follows Beijing's recent announcement of a series of stimulus measures intended to rejuvenate an economy confronting various challenges. The newly implemented measures include interest rate reductions, lowered bank reserve requirements, and relaxed regulations on home purchases.
These policy changes are anticipated to result in a concentrated boost for China's tourism and consumer sectors during the National Day holiday, as reported by Singaporean newspaper Lianhe Zaobao.
The publication referenced data from travel platforms indicating that ticket orders for scenic spots in China increased by 37 percent year on year on the holiday's first day, while bookings for homestays surged by 55 percent.
As China's "golden week" continues to stimulate consumer spending and economic activity, industry experts foresee a dynamic period ahead for sectors such as tourism, transportation, entertainment, and dining, according to the Manila Times.
Rohan Mehta for TROIB News
Various international media outlets have pointed out that this increase serves as an encouraging sign for China's tourism and consumption industries.
On Tuesday, marking the start of the holiday from October 1 to October 7, cross-regional travel in China surpassed 330 million trips, reflecting a 48.1 percent rise compared to the previous period, as reported by the Ministry of Transport. This figure also represents over a 30 percent increase relative to pre-COVID-19 travel levels in 2019.
Bloomberg noted that this rise in travel is recognized as "early signs of a consumer spending pickup" in the world's second-largest economy.
This travel boom follows Beijing's recent announcement of a series of stimulus measures intended to rejuvenate an economy confronting various challenges. The newly implemented measures include interest rate reductions, lowered bank reserve requirements, and relaxed regulations on home purchases.
These policy changes are anticipated to result in a concentrated boost for China's tourism and consumer sectors during the National Day holiday, as reported by Singaporean newspaper Lianhe Zaobao.
The publication referenced data from travel platforms indicating that ticket orders for scenic spots in China increased by 37 percent year on year on the holiday's first day, while bookings for homestays surged by 55 percent.
As China's "golden week" continues to stimulate consumer spending and economic activity, industry experts foresee a dynamic period ahead for sectors such as tourism, transportation, entertainment, and dining, according to the Manila Times.
Rohan Mehta for TROIB News
