China's domestic consumption experienced a slight uptick during the weeklong Lunar New Year holiday, with travel and retail sales showing positive growth. Millions of people returned home for the festivities, contributing to a record number of domestic tourists. Sales of key retail and catering services also increased compared to the previous year.
Three woman eat snack food as the walk through a popular shopping street wearing traditional clothing on the sixth day of the Lunar New Year in Beijing February 3, 2025. — AFP picas a first-time user . Exclusively for Malay Mail readers: Use codeBEIJING, Feb 6 — China ’s sluggish domestic consumption got a boost over the weeklong Lunar New Year holiday, with travel and retail sales both offering a slight reprieve to a dragging economy facing the prospect of an escalating US trade war.
That’s a 5.9 per cent jump from the same period last year, when travel numbers returned to pre-pandemic levels. But last month, policymakers expanded a subsidy scheme for common household items, from water purifiers and refrigerators to laptops and electric vehicles.
Consumption China Lunar New Year Retail Sales Travel
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