During the 2023 National Day holiday, China’s economy showcased a stabilizing and improving trend, signaling a strong impetus toward achieving its annual economic targets.
The holiday period saw impressive data on cross-regional mobility, tourism, and entertainment, highlighting the vibrancy of the consumer market. Cross-regional travel exceeded 280 million trips, and urban parks across the country welcomed over 121 million visitors in the first five days. The box office revenue during the holiday surpassed 1.8 billion yuan, reflecting the robust development of the holiday economy and the effective release of domestic demand potential.
This positive momentum is closely linked to the policy measures implemented by the government to promote sustained and healthy economic development. Emphasis on stabilizing economic growth, facilitating industrial upgrading, and expanding domestic demand has started to bear fruit, playing a crucial role in improving market expectations.
The real estate market also showed signs of recovery during the holiday. Influenced by supportive policies, many regions implemented city-specific measures to stimulate activity. Sales offices in Beijing, Shanghai, Guangzhou, and Shenzhen were bustling with potential buyers, and the number of property viewings and visits surged significantly, reflecting renewed confidence among homebuyers.
Overall, the encouraging data from the National Day holiday indicates a promising future for China’s economy. The effective implementation of policies and the resurgence in consumer confidence are expected to continue driving economic growth in the coming months.
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National Day holiday witnesses a promising future for China's economy
cgtn.com
