世界快看點丨Consumers give economy festive boost
ChineseNewYearspreeshowsshoppers"bigroleinbolsteringgrowth,sayexperts
ChineseconsumerssplurgedduringtheSpringFestivalholiday,notonlyonthingslikeduty-freecommodities,jewelryandhealth-relatedproducts,butalsoonexperiencessuchastravelandentertainment,fueledbytheoptimizationofCOVID-19preventionandcontrolmeasures,industryexpertssaid.
TheyaddedthatChina"sconsumermarket,whichplaysafundamentalroleinbolsteringthecountry"seconomicgrowth,isexpectedtogainmomentumthisyear,andtheconsumptionboomduringtheweeklongChineseLunarNewYearholidayshowcasedtheenormousvitalityandstrongresilienceofthenation"seconomy.
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StatisticsfromtheDepartmentofCommerceofHainanprovinceshowedthatthetotalsalesof12offshoreduty-freeshoppingmallsonthetropicalislandreached1.69billionyuan($249.1million)fromJan21toWednesday,anincreaseof20.03percentcomparedwiththefirstfivedaysoflastyear"sSpringFestivalholiday.
Chinesee-commerceplatformJDreportedthatbetweenJan21andWednesday,theturnoverofrabbit-themedjewelryskyrocketedmorethantenfoldoverthelastSpringFestival,whiletransactionvolumeofprecookeddishesrosemorethansixtimes.
Health-relatedandnutritionalproductstoboosttheimmunesystemareincreasinglyfavoredbyChineseshoppers,withtheturnoverofaminoacidoralliquidandproteinpowdersoaring215percentand70percentyear-on-year,respectively.
Whileglobaleconomicgrowthisprojectedtodeceleratefromanestimated3percentin2022to1.9percentthisyear,China"sgrowthisexpectedtomoderatelyimprovethisyear,saidareportissuedbytheUnitedNationsonWednesday.
WiththeauthoritiesadjustingCOVIDpoliciesinlate2022andeasingmonetaryandfiscalpolicies,China"seconomicgrowthisforecasttoaccelerateto4.8percentin2023,saidthereport.
China"sGDPexpanded3percentyear-on-yearin2022to121.02trillionyuan,accordingtotheNationalBureauofStatistics.Consumptioncontributedto32.8percentofChina"seconomicgrowthlastyear,drivingGDPgrowthby1.0percentagepoint.
AnalystssaidthatSpringFestivalspendinghasbeenabarometerofChina"sconsumptionvitality,andtherecoveryofconsumptionwillbecomethemainforceboostingChina"seconomicreboundin2023.
"TheSpringFestivalisthetraditionalfestivalthatChinesepeopleattachthemostimportanceto,andit"salsoapeakseasonforconsumption,"saidBaiMing,deputydirectorofinternationalmarketresearchattheChineseAcademyofInternationalTradeandEconomicCooperation.
China"sconsumermarkethasseen"recoveryofgrowth"duringtheholiday,whichindicatesthevitalityofdomesticconsumptionandtherestorationofconsumerconfidence,thankstotheoptimizedCOVID-19controlmeasures,hesaid.
Thedomestictourismmarketalsowitnessedarobustrecoveryduringtheholiday.AccordingtotheMinistryofCultureandTourism,domesticdestinationsandattractionsreceived308millionvisits,up23.1percentyear-on-year.Thenumberwasroughly88.6percentofthatin2019.
Cinemaswelcomedcrowdsofmoviegoers,withthecountry"sboxofficerevenuefortheholidayexceeding6.5billionyuanasof4pmonFriday,datafromboxofficetrackerMaoyanshowed.
Chineseshoppersunleashedtheirpent-uppurchasingdemandduringtheSpringFestival,andtheirconsumptionlevelhasalmostreturnedtopre-pandemiclevels,saidPanHelin,co-directoroftheDigitalEconomyandFinancialInnovationResearchCenteratZhejiangUniversity"sInternationalBusinessSchool.
WuChaoming,deputydirectoroftheChasingInternationalEconomicInstitute,saidthecontinuedoptimizationofCOVID-19policieswillsignificantlyboostconsumptiongrowthandstimulatepeople"sappetitetotravelandspendthisyear.
ChengSicontributedtothisstory
標簽: ChengSicontributedtothisstory sconsumermarket seconomicgrowth
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