Chinese consumer market remains steady during holidays

The consumption market in China experienced continuous growth during the seven-day National Holiday, with spending remaining steady and boosting economic activity. During the first three days of the holiday, traffic and revenue increased in 78 major streets and commercial areas by 3.4% and 5.3%, respectively, compared to last year. The program for replacing old goods recorded sales of 19.63 billion yuan (approximately $2.91 billion), including the replacement of 46,000 vehicles and sales of new cars worth 7.45 billion yuan, along with household and smart appliances totaling over 11 billion yuan. Around 2.13 billion travelers used various modes of transportation, with a record number of railway trips on October 1st. To stimulate spending, China added train services on busy routes, eliminated toll fees on highways, and launched tourism campaigns and incentive programs worth 310 million yuan to support the tourism sector and spending during the holiday.

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