Rapid recovery in consumption in China
China's consumption has been recovering quickly, with some sectors almost returning to their pre-pandemic levels, Xinhua reports.
Rapid recovery in consumption in China
The Economics of Geography

Rapid recovery in consumption in China

AFP\ImagineChina
Eurasia 16/02/2023 12:00

China's consumption has been recovering quickly, with some sectors almost returning to their pre-pandemic levels, Xinhua reports.

„The vigorous rebound has prompted central and local governments to introduce more policies, which experts believe will build on the growth momentum and unleash further consumption potential,” the news agency adds. 

Photo: iStock

Domestic tourism was one of the sectors that took the lead in staging a rebound, Xinhua writes, adding that according to the Ministry of Culture and Tourism, during China's weeklong Spring Festival holiday that ended on Jan. 27, some 308 million domestic trips were made, up 23.1 percent from the Spring Festival holiday last year.

Other industries such as retail and catering are also thriving. The combined revenues of major retail and catering businesses rose 6.8 percent from the last Spring Festival holiday, the Ministry of Commerce said.

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