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      • 您當(dāng)前的位置: 首頁-資訊-詳情

        Consumption upgrade promises growth momentum

        2023-02-20 11:21:14來源:CHINA
        TouriststhrongCrossStreetinLuoyang,Henanprovince,toexperiencethecharmoftheancientcapitalthatwasdeckedupfortheSpringFestivalholidayonJan26.[PHOTObyZHANGYIXI/FORCHINADAILY]

        HolidayinlateJanheraldsspendingspree,demandsurgeasgreen,smartgoodsrise

        ThehustleandbustleofmarketplaceshavereturnedtoChina,especiallyduringtheSpringFestivalholidayinlateJanuary,raisingexpectationsthattheoptimizationofCOVID-19responsemeasures,combinedwithpoliciessupportiveofconsumption,willhelptheconsumermarkettoregaingrowthmomentumthisyear,expertssaid.

        China"sconsumptionsector,includingretail,catering,tourismandmoviesegments,wereseverelyhitbytheCOVID-19pandemic.Allofthem,however,havepostedastrongrecoveryintheearlypartofthisyearwhenpeopleswarmedshoppingmalls,restaurants,cinemasandtouristattractionsduringtheweeklongChineseNewYearholiday,tosatisfytheirpent-upconsumptiondesire.


        (資料圖片僅供參考)

        TherobustrecoveryinconsumerspendingduringtheholidayshowcasedtheenormousvitalityandstrongresilienceofChina"seconomy,theworld"ssecond-largest,andwillgiveastrongboosttothecountry"seconomicrebound,industryanalystssaid.

        Theyemphasizedthatboostingconsumptionisacrucialstepforexpandingdomesticdemand,andtherecoveryofconsumption,morethaninvestment,isseenascriticaltoChina"seconomicreboundthisyear.

        InthecontextoftheSpringFestivalholiday,salesrevenueofChina"sconsumption-relatedsectorsrose12.2percentthisyearoverthecorrespondingperiodoflastyear,datafromtheStateTaxationAdministrationshowed.Thefiguresawanaverageannualgrowthof12.4percentcomparedwiththepre-pandemicSpringFestivalholidayin2019.

        Retailandcateringenterprisesreporteda6.8percentyear-on-yeargrowthintheirrevenuesduringtheJan21-27holiday,accordingtotheMinistryofCommerce.

        Salesofcereal,oilandfoodstuffsgrewby9percent,clothingby6percent,goldandjewelryby4.4percentandautomobilesby3.6percentatretailenterprisesmonitoredbytheministry.

        Theconsumptionofcatering,hospitalityandotherlifestyleservicesalsosawastrongreboundduringtheholiday,whileconsumers"spendingondine-inservicesatrestaurantsandeateriessurged15.4percentcomparedwiththesameperiodoflastyear.

        ThepopularityofonlineshoppingincreasedamongChineseconsumers.E-commerceplatformJD"son-demandretailserviceShopNowreportedthatbetweenJan21and27,itsoverallsalesincreasedby90percentovertheSpringFestivalholidaylastyear.

        VisitorswalkpastthepostersofHiddenBlade,FullRiverRedandTheWanderingEarthII(lefttoright),moviesthatwerereleasedduringtheSpringFestivalholiday,atacinemainBeijingonFeb1.[PHOTObyZHUXINGXIN/CHINADAILY]

        Giftboxes,fruits,alcoholicbeveragesandmobilephoneswerethemostpopulargoodsboughtduringtheweeklongholiday.

        SalesofsmarthealthmonitoringproductsonJDShopNowincreasedmorethantenfoldyear-on-year,whiletheturnoverofmassagedevices,electrickettlesandairpurifiersdoubledduringthisperiod.Thetransactionvolumeofkitchenapplianceslikefloor-cleaningrobots,cookingmachinesandairfryersincreasedbymorethaneighttimescomparedwiththepreviousyear.

        Whileglobaleconomicgrowthisprojectedtodeceleratefromanestimated3percentin2022to1.9percentthisyear,China"sgrowthisexpectedtoimprovemoderatelythisyear,accordingtoaUnitedNationsreport.

        WiththeChineseauthoritiesadjustingCOVID-19containmentpoliciesinlate2022andeasingmonetaryandfiscalpolicies,China"seconomicgrowthisforecasttoaccelerateto4.8percentin2023,saidtheUNreport.

        China"sGDPexpanded3percentyear-on-yearin2022to121.02trillionyuan($17.59trillion),accordingtotheNationalBureauofStatistics.Consumptioncontributedto32.8percentofChina"seconomicgrowthlastyear,drivingGDPgrowthby1.0percentagepoint.

        "ConsumptionplaysafundamentalroleinChina"seconomicdevelopmentandisthemaindrivingforceboostingeconomicgrowth,"saidWangYun,aresearcherattheAcademyofMacroeconomicResearch,whichisaffiliatedwiththeNationalDevelopmentandReformCommission,thecountry"stopeconomicregulator.

        Wangsaidsheisoptimisticthatconsumptionmomentumwillbemaintainedthisyear,withthegrowthrateexpectedtoexceed6percent."WehaveobservedthatChineseshoppershaveattachedgreatimportancetosafetyandhealth,andprefertobuyhigh-qualityproducts.Health-relatedcommoditieslikenutritionalproducts,medicineandfitnessequipmenthavebeenincreasinglyfavoredbyconsumers."

        WuChaoming,deputydirectoroftheChasingInternationalEconomicInstitute,saidthecontinuedoptimizationofCOVID-19containmentpolicieswillsignificantlybolsterconsumptiongrowthandstimulateresidents"appetitetotravelandspendthisyear.

        PercapitaconsumptionexpenditureamongChineseresidentsisexpectedtogrowbetween8percentand12percentthisyearcomparedwith2022,whileretailsalesofconsumergoods,avitalconsumptionindicator,willincreasebetween7percentand11percent,Wuestimated.

        "WeexpectChina"seconomicgrowthin2023tobemuchhigherthanthatofthepreviousyear,mainlydrivenbyconsumption,"saidRobinXing,chiefChinaeconomistwithMorganStanley,whileexpressingoptimismthatservice-relatedconsumptionwillgrowthisyear.

        ConsumerswaitinlinetodineatManTungIceRoominChaoyangJoyCityinBeijingonFeb1.[PHOTObyZHUXINGXIN/CHINADAILY]

        Thedomestictourismmarketalsowitnessedarobustrecoveryduringtheholidaywith308millionvisits,up23percentyear-on-year,recoveringtoabout88.6percentofthe2019level,generatingarevenueof375.8billionyuan,up30percentyear-on-yearandrecoveringto73percentofthe2019level,accordingtotheMinistryofCultureandTourism.

        DatafromonlinetravelserviceproviderTrip.comGroupshowedoutboundtravelorderssurged640percentyear-on-yearduringtheholiday,whileChinesemainlandtourists"bookingsforoverseashotelsandinternationalflightticketsbothsoaredmorethanfourtimesoverthesameperiodoflastyear.

        JustinKoh,seniorvice-presidentatglobalconsultingcompanyAlixPartners,said:"Weanticipatedtheresumptionoftravel,startingwiththeChineseNewYearholiday.Thenumberofinternationalflightswillriseinthesecondquarterofthisyear,whichisexpectedtohelpboostleisureandbusinesstravelbothathomeandabroad."

        CinemasacrossChinawelcomedmoviegoerswithabunchofhighlyanticipatedblockbustersduringthisyear"sSpringFestivalholiday.Some129millionticketsweresold,generatingawhopping6.76billionyuaninbox-officereceipts,upnearly12percentfromthecomparableperiodof2022,accordingtotheChinaFilmAdministration.Theearningsmadethisyear"sholidaythesecond-highestgrossingtodate.

        BaiMing,deputydirectorofinternationalmarketresearchattheChineseAcademyofInternationalTradeandEconomicCooperationinBeijing,said:"China"sconsumermarkethasseenrecoveryofgrowthduringtheholiday,whichindicatesthevitalityofdomesticconsumptionandtherestorationofconsumerconfidence,andmaybodewellforChina"seconomicperformancethisyear,thankstotheoptimizationofCOVID-19controlmeasures."

        AnarticlebyXiJinping,generalsecretaryoftheCommunistPartyofChinaCentralCommittee,onmajorissuespertainingtothecountry"scurrenteconomicworkwaspublishedinthisyear"sfourthissueofQiushiJournal,aflagshipmagazineoftheCPCCentralCommittee,onFeb16.

        Itstresseseffortstoexpanddomesticdemandbyprioritizingtherecoveryandexpansionofconsumption,andeffectivelydrivinginvestmentofthewholesocietythroughgovernmentinvestmentandpolicyincentives.

        Consumptionreboundisakeythemethisyear.Thetone-settingCentralEconomicWorkConferenceinmid-DecembersaidthatChinawillfocusonboostingdomesticdemandbyprioritizingtherecoveryandexpansionofconsumptionin2023.Thereporttothe20thNationalCongressoftheCommunistPartyofChinainOctoberstressedtheneedtoexpanddomesticdemandandbetterleveragethefundamentalroleofconsumptioninstimulatingeconomicgrowth.

        Inaddition,theStateCouncil(China"sCabinet)executivemeetinginlateJanuaryurgedmeasurestoacceleratetherecoveryofconsumptionasthemaineconomicdrivingforce,andcalledforpoliciessupportingconsumerservicebusinessesandself-employedindividualsandpromotingtheconsumptionofcarsandotherbig-ticketitemstobefullyimplemented.

        Localgovernmentsacrossthecountryhaveacceleratedstepstorolloutfavorablepoliciestoboostconsumptionlikedistributingshoppingvouchers.Shanghaiunveiledanactionplanincludingpurchasetaxexemptionsfornewenergyvehiclesandvouchersforsectorslikeculturaltourismandcatering.

        TheauthoritiesinShenyang,capitalofLiaoningprovince,launcheda100millionyuanvouchercampaignfromJan10toFeb28toboostsalesofautomobilesandhomeappliances.

        ThegovernmentinTianjindistributedshoppingcouponsworth115millionyuan,whileBeijing"sFangshandistrictissued1millionconsumptionvoucherstoencouragespendingintheculturalandtourismsectorfromJan11toFeb2.

        Chineseshoppersunleashedtheirpent-uppurchasingdemandduringtheSpringFestivalholiday,andtheirconsumptionlevelalmostreturnedtothepre-pandemiclevel,saidPanHelin,co-directoroftheDigitalEconomyandFinancialInnovationResearchCenteratZhejiangUniversity"sInternationalBusinessSchool.

        China"sconsumptiongrowthisestimatedtoreachabout6.7percentthisyear,saidWangTao,headofAsiaeconomicsatUBSInvestmentBank,whopredictedthisyear"sGDPgrowthwillbeabout5percentandthegrowthoffull-yearnominalretailsaleswillreachabout9percent.

        "Chinaboastsasizableconsumptionmarket,withimmensedevelopmentpotentialandresilience.Thekeytostabilizingeconomicgrowthismaintainingstableconsumptiongrowth,"saidZhaoPing,deputyheadoftheAcademyofChinaCouncilforthePromotionofInternationalTrade,whichisbasedinBeijing.

        Shealsourgedmoreeffortstoencourageenterprisestousenew-generationinformationtechnologies,suchasbigdata,cloudcomputingandartificialintelligencetocreatenewtypesofgreenandintelligentconsumergoodsandcultivatenewconsumptiongrowthpoints.

        標(biāo)簽: cloudcomputingandartificialintelligencetocreatenewtyp

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