China's National Day holiday kicked off with an impressive boom in travel and consumer spending, signaling a robust boost to the economy. 🌟
On the first day of the seven-day celebration (October 1-7), cross-regional trips within the Chinese mainland soared to over 330 million, marking a 48.1% jump from the previous period and a staggering 30% increase compared to 2019 levels before COVID-19. 📈✈️
International media, including Bloomberg, have hailed this surge as \"early signs of a consumer spending pickup\" in the world's second-largest economy. 💬
Just days before the holiday, Beijing rolled out a series of stimulus measures aimed at revitalizing the economy. These included cutting interest rates, lowering bank reserve requirements, and easing restrictions on home purchases, according to reports from CGTN.
Thanks to these policy changes, the National Day holiday has sparked a concentrated boom in China's tourism and consumer sectors. Singaporean newspaper Lianhe Zaobao highlighted that ticket orders for scenic spots surged by 37% year-on-year, while bookings for homestays skyrocketed by 55%. 🏞️🏠
As this \"golden week\" continues to fuel consumer spending and economic activity, industry experts predict a vibrant period ahead for sectors such as tourism, transportation, entertainment, and dining, reported the Manila Times. 🍽️🎢🚍
