China saw vibrant spending activities across its tourism, transport and retail sectors during the Dragon Boat Festival holiday period, which stretches from Saturday to Monday this year.
Tourists throng the Bund, Shanghai, China, June 9. 2024. /CFP
A total of 110 million domestic trips were made during the festival, an increase of 6.3 percent from the previous year, while tourists spent 40.35 billion yuan ($5.56 billion), up 8.1 percent from the same period last year, said the Chinese Ministry of Culture and Tourism on Tuesday.
Over 637.62 million trips were handled by China's transportation authorities during the entire holiday period, with an average of 212.54 million trips per day, an increase of 16.6 percent over the same period in 2019, according to latest data from the Ministry of Transport.
Passengers at Beijing North Railway Station, Beijing, China, June 8, 2024. /CFP
Border inspection agencies across China handled nearly 5.75 million entries and exits during the holiday period, jumping 45.1 percent year on year, according to the National Immigration Administration.
The country's box office revenue for the 2024 Dragon Boat Festival, including pre-sales, topped 378 million yuan, according to Chinese box office tracker Dengta.
Vibrant spending during the Dragon Boat Festival reflects a strong recovery in the consumption sector, which is supported by robust economic growth as well as a slew of policies introduced by the government aimed at boosting consumption, Chen Jiahe, chief investment officer at Novem Arcae Technologies, told CGTN.