Editor's note: Imran Khalid, a special commentator on current affairs for CGTN, is a freelance columnist on international affairs. The article reflects the author's opinions and not necessarily the views of CGTN.

Can the Super Golden Week provide a new impetus to China's fourth-quarter economy? Without a doubt, yes. This extraordinary holiday, which coincides with the Hangzhou Asian Games, promises to be an economic bellwether, propelling fourth-quarter consumption and fortifying the nation's year-round economic growth. A collective enthusiasm permeates the air, underscoring the profound cultural significance of these festivities.

The spirit of celebration is not confined to the urban centers but spreads to the farthest corners of the country. Amid the challenges that have punctuated recent times, China's consumer market stands tall, displaying an indomitable spirit of recovery and expansion. It is an embodiment of Chinese economic resilience, debunking Western skepticism about China's economic prospects. The Chinese economy maintains a robust commitment to its potential and dynamism, defying external narratives to chart its course.

During this remarkable eight-day spectacle, China is set to witness a staggering 896 million travel excursions, underpinned by a blend of soaring travel demand and the economic repercussions of the Asian Games. This year's Golden Week is not merely a holiday but a vibrant showcase of prosperity and dynamism. The domestic tourism sector is flourishing, with iconic cities like Hangzhou and Changsha capturing the limelight. Xinjiang and Xizang have also welcomed an influx of visitors, adding to the jubilant atmosphere. Outbound tourism is on the brink of an astonishing 20-fold year-on-year surge during the holidays, which is a testament to China's burgeoning global influence.

Projections from travel agency U-tour indicate that outbound travelers will surpass the May Day holidays by an incredible five-fold margin. This enthusiasm is further mirrored by the threefold increase in the average daily volume of inbound and outbound passenger trips, a testament to China's resurgent travel industry, as reported by the National Immigration Administration. This remarkable revival extends to the realm of consumer spending, as record-breaking bookings and travel trends have been witnessed in recent days. The prolonged holiday season and the ripple effects of the Asian Games have injected renewed vigor into the economy. With well-planned macroeconomic stimulus policies and the impetus from the Golden Week holidays, consumption is primed for a resurgence and poised to bolster economic growth for the entire year. These efforts have defied smear campaigns and pessimistic Western narratives about China's economic prospects.

Alongside tourism, the Asian Games have kindled a sports frenzy that extends its influence to the sports economy, manufacturing, and foreign trade. This sporting success is not only bolstering domestic consumption but also international demand, offering a unique opportunity for China's further economic opening. China's vast consumption potential remains largely untapped, underscored by the substantial household savings, which recently surpassed 7 trillion yuan ($9757 million), reaching 7.06 trillion yuan by the end of August. This financial reservoir signifies a burgeoning market for emerging consumer goods and elevated consumption demands.

The potential for growth in the consumer economy is immense, with new-energy vehicles, domestically-produced 5G smartphones, large aircraft, and the burgeoning cruise industry becoming the driving forces behind China's consumer sector. Government initiatives are set to gradually alleviate the pandemic's impact on individuals and spur retail sales growth, with projections indicating a potential 6 percent increase in the fourth quarter. China's evolving consumer landscape, bolstered by sporting events, holiday season and astute economic strategies, is poised to shape the nation's economic trajectory in the years to come.

The Golden Week holiday and the Asian Games will further accelerate the recovery in consumption and economic growth during the fourth quarter. Moreover, the third Belt and Road Forum for International Cooperation (BRF) scheduled for October and the China International Import Expo in November will provide a robust boost to China's economic development. 

This holiday season serves as an accelerator, propelling China forward on its path of economic resurgence. The extended holiday period presents a significant opportunity for a peak in retail spending, with a substantial impact expected on fourth-quarter GDP growth.

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