Consumers give economy festive boost
转自：China
TouriststakephotoswhilevisitingtheTerracottaWarriorsinXi'an,Shaanxiprovince,onMonday.DuringtheSpringFestivalholiday,thefamoushistoricsiteattractedalargenumberofvisitors.ZHANGTIANZHU/FORCHINADAILY
Chinese New Year spree shows shoppers' big role in bolstering growth, say experts
ChineseconsumerssplurgedduringtheSpringFestivalholiday,notonlyonthingslikeduty-freecommodities,jewelryandhealth-relatedproducts,butalsoonexperiencessuchastravelandentertainment,fueledbytheoptimizationofCOVID-19preventionandcontrolmeasures,industryexpertssaid.
TheyaddedthatChina'sconsumermarket,whichplaysafundamentalroleinbolsteringthecountry'seconomicgrowth,isexpectedtogainmomentumthisyear,andtheconsumptionboomduringtheweeklongChineseLunarNewYearholidayshowcasedtheenormousvitalityandstrongresilienceofthenation'seconomy.
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.
编辑：王瑜