People flock into a train station in Lianyungang City, east China's Jiangsu Province, September 27, 2023. /CFP
Editor's note: Masuda Khatun, a special commentator for CGTN, is an international affairs analyst and freelance columnist. The article reflects the author's opinions and not necessarily the views of CGTN.
Chinese economic growth indicates a pragmatic boost in consumption as the Golden Week holidays approach. Consumption boosts Chinese economic recovery and strength. The eight-day Golden Week holidays should stimulate tourism and retail expenditure. This 8-day holiday is a hot topic in China now. Gift-giving, family reunions, travel, and retail make it a barometer for Chinese private consumption. Businesspeople are optimistic about this long holiday amidst the ongoing Asian Games in Hangzhou.
The rush of "Super Golden Week holidays" which includes the Mid-Autumn Festival and National Day holiday, began on Wednesday (September 27) with rail transportation. As the world's largest consumer market, Golden Week has economic possibilities. As traders turn to the Golden Week for new catalysts, vehicles, home appliances, food and beverage, tourist, shopping, and retail consumption rises.
Increasing high-quality tourism products and services should stabilize the domestic supply chain. Night markets, retail malls, and scenic sites will be busy as people visit various cities nationwide. Such situations demonstrate the strength of consumption, the primary driver, and the Chinese economy, which faced challenges after the COVID-19 pandemic, but is recovering.
Media reports say Wednesday is the first day of the Golden Week holiday rush, and China State Railway Shanghai Group Co expects 2.5 million passenger trips in the Yangtze River Delta region, 600,000 more than in 2019. Official estimates suggest 190 million rail passengers during the holidays. The Civil Aviation Administration of China expects about 21 million air travelers throughout the period. To illustrate the Chinese growth in consumption comprehensively, these data are enough.
Despite Western propaganda, China will reach its post-COVID-19 economic potential. Since consumption growth signifies macroeconomic growth, the Chinese government's people-centric macroeconomic policy is timely and effective.
Thai Prime Minister Srettha Thavisin (front, 4th from L) welcomes Chinese tourists at the Suvarnabhumi Airport in Bangkok, Thailand, September 25, 2023. /Xinhua
The lovely "Super Golden Week" sequences will increase Chinese economic confidence. This is significant as the U.S. and the West have propagandized the so-called "collapse" of the Chinese economy this year. The so-called economic "collapse" propaganda campaign prompted Western media to dwindle confidence in the Chinese economy before Golden Week. For example, U.S. media Newsweek in early September published a story suggesting that Shanghai had turned into "a ghost town." Actually, China's economy has not collapsed, and on the contrary, hype that it has done so has repeatedly proven to be false. This will prove most pessimistic arguments stupid and baseless, discrediting their disinformation campaign.
China's economy and consumer sector will shine during Golden Week. Golden Week not only shows China's economy and consumer market's strength and promise, it demonstrates the Chinese government's sincere efforts to try its level best for economic recovery.
The high demand for hotel rooms, flights, and train tickets during the holidays suggests that China's cultural and tourist sectors are rebounding from the COVID-19 pandemic.
Retailers predict excellent business prospects from the celebrations. Consumption and tourism may improve as the nation prepares for the Golden Week holidays starting Friday. Culture and tourism are recovering strongly, bolstering industry confidence.
National Immigration Administration (NIA) data on Wednesday predicted 300 percent more trips during the Golden Week than in 2022 and 90 percent more than in 2019.
The NIA attributed the high number of trips to the Mid-Autumn Festival, the National Day break and the Asian Games, as well as a continuing resumption of international flights, and visa-free programs by foreign nations targeting Chinese tourists.
International passengers are expected to surge at Beijing, Shanghai, Guangzhou, and land ports bordering Hong Kong and Macao throughout the holidays.
As public travel increases, domestic demand continues to grow, supporting the economic recovery. Beijing, Shanghai, Chengdu, Hangzhou, Guangzhou, Xi'an, Chongqing, Nanjing, Shenzhen, and Changsha are popular holiday destinations.
In addition to domestic travels, some are also traveling abroad. Thailand, the UK, Singapore, and Australia are overseas favorite destinations. Chinese tourists have flooded Japan, South Korea, Southeast Asia, Europe, and Central Asia, increasing outbound travel. Trip.com announced on September 25 that bookings for popular international destinations like Singapore, Australia, and Thailand have grown 20 times compared to last year's vacation period.
Golden Week attracts hundreds of millions of Chinese travelers, which enhances local shopping and tourism. China's consumption and economic growth will benefit domestic and global retail and tourism. Golden Week shows that Chinese consumption is driving economic strength.
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