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Holiday consumption boom shows growth potential of Chinese market

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BEIJING, Oct 9(ABC): After queuing up orderly and having their health information checked, Zhang Wei and his family entered the Grandview Mall in the southern Chinese metropolis of Guangzhou, ready for their holiday shopping spree. The Tianhe Road shopping area is one of the largest business clusters in China, comprising more than 20 large malls.

Consumers enjoy one-stop leisure services of catering, shopping and entertainment here. “We can loaf here for a whole day on holiday,” Zhang said. The National Day holiday, which lasts from Oct. 1 to 7, marks a peak consumption season. Authorities have rolled out multiple policies ahead of the holiday this year to promote consumption. Some 422 million domestic trips were made in China during this year’s holiday, according to the Ministry of Culture and Tourism on Friday. Domestic tourism revenue generated during the holiday totaled 287.2 billion yuan (around 40.5 billion U.S. dollars), statistics from the ministry showed.

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  • FD News

    Financial Daily (FD) is an emerging media outlet providing news reports, analysis and features especially related to politics and economy. FD is currently one of the largest and most comprehensive private-sector information portals in Pakistan, providing its readers with apolitical, unbiased and fact-based news reports and analyses.

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