During this May Day holiday, China's consumer market unleashed renewed and robust vitality. Data from the Ministry of Transport shows that, from May 1 to 5, the total cross-regional passenger traffic nationwide increased by 8 percent year-on-year. Passenger volumes by rail, road, water, and air also saw a marked rise. According to the Ministry of Commerce, sales from major retail and catering businesses across China saw a year-over-year increase of 6.3 percent during the holiday. The twin boom in travel and consumption not only ignited the holiday economy but also revealed the depth and vast potential of China's economic development. While traditional tourist hotspots unsurprisingly saw huge crowds, many people opted for "reverse travel," making tourism in smaller cities a new highlight of consumption. (Global Times)
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(Video) New Trends, New Momentum: The May Day holiday consumption mirrors the breadth and depth of China’s economy
Editor: China’s May Day holiday, one of the country’s largest annual holidays, concluded on May 5. As expected, the five-day break triggered a nationwide travel boom. Yet beyond the bustling crowds, several new tourism trends have emerged, indicating potential new drivers for China’s economic growth. On the final day of the holiday, Global Times publish…
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