Xinhua News Agency, Beijing, January 29th (International Observation) Energetic Vitality Gains the World——The World Welcomes the Chinese Spring Festival Consumption Boom
Xinhua News Agency reporter
During the Spring Festival, the Chinese consumer market ushered in a “good start” in 2023. The number of tourists in urban business districts has increased, the number of tourists to popular scenic spots has soared, and the demand for “food, accommodation, travel, shopping and entertainment” has been released intensively. The hot consumption scene makes overseas people and the media feel the strong resilience and vitality of the Chinese economy, and captures the positive signal of the upward trend of the Chinese economy. It is widely expected that China’s economy will resume strong growth this year and will continue to release more global dividends.
Spring Festival consumption reflects growth momentum
“Foreign New Year’s goods” are dazzling, and the catering business is booming… The consumption recovery during the Chinese New Year is accelerated, which reflects the strong internal driving force of China’s economic development, and makes global trading partners more optimistic about the prospects of the Chinese market.
“Chilean cherries are the ‘star fruit’ that people give to each other and share during the Chinese New Year!” Chilean “Agricultural World” magazine website reported this way a few days ago. Claudia Soler, manager of the Cherry Committee of the Chilean Fruit Exporters Association, said that with the strong demand growth in China’s second- and third-tier cities, the market is expected to be very optimistic this year.
Argentina’s “Commercial breaking latest news” said that high-quality agricultural products such as South American fruits, red wine, and beef are popular in the Chinese market, and new export opportunities will usher in the new year.
In addition to the traditional “foreign New Year products”, many high-end brands also took advantage of the Spring Festival to launch products related to the Year of the Rabbit. Caroline Reyer, director of high-end brands at Pictet Asset Management in Switzerland, said that the market believes that Chinese consumers will return.
According to the value-added tax invoice data released by the State Administration of Taxation of China, during the Spring Festival holiday this year, the sales revenue of consumption-related industries across the country increased by 12.2% compared with the Spring Festival holiday of the previous year.
Alex Ampaben, a Ghanaian fiscal policy expert, said that the festivities during the Spring Festival in various parts of China are heartening, which shows the vitality of the world‘s second largest economy. Fawoz Bahar, editor-in-chief of Kuwait’s Al-Arab, said that the consumption power of the Chinese market strongly supports the stability of the Chinese economy.
The recovery of the cultural tourism market stimulates global expectations
“Exuberant vitality” and “more optimism”… During the Spring Festival, China’s cultural tourism market reproduced the strong vitality of the “holiday economy”, arousing new expectations for global tourism and other industries.
South Korea’s “Asian Economy” believes that the “Spring Festival economy” is heating up, and the vitality of tourism and cultural industries has reappeared, which has raised the outside world‘s expectations for China’s economy in the first quarter of this year. Singapore’s “Straits Times” analyzed that the box office of China’s “Spring Festival” movies in 2023 will increase significantly compared with 2022, which is expected to boost the Chinese film industry affected by the epidemic.
Bloomberg reported that the data from the Spring Festival holiday made the market generally believe that China’s overall economic growth will be faster than previously expected.
According to the data center of the Ministry of Culture and Tourism of China, there were 308 million domestic trips during the Spring Festival this year, a year-on-year increase of 23.1%. At the same time, during the Spring Festival, immigration management agencies across the country inspected a total of 2.877 million people who entered and exited the country, of which 1.443 million people left the country, an increase of 117.8% over the same period during the Spring Festival last year.
Peivi Puonti, an analyst at the Finnish Institute of Economic Research, said that during the Spring Festival, many Chinese tourists choose to travel abroad, bringing dividends to the economies of neighboring countries. More Chinese tourists “going out” will also benefit Finland and other Nordic countries. Make a positive impact.
Hamdi Taba, president of the Arab Merchants Union and the Jordanian Merchants Association, said that during the Spring Festival, the Chinese cultural tourism industry presents a nationwide consumption boom. The Chinese people’s overseas travel and vacation once again let the world see the strong resilience and vitality of the Chinese economy.
Alicia Garcia Herrero, Chief Economist for the Asia-Pacific region of Natixis Bank, told reporters that during the Spring Festival, not only the consumption of culture and tourism in China is booming, but also the consumption of durable goods is also picking up. The Chinese economy will show a clearer and rapid growth after the festival. sign.
Developmental vitality increases the world economy
Many institutions and overseas people believe that the consumption boom during the Chinese Spring Festival shows that the vibrant Chinese economy will provide important support for the recovery of the world economy.
The United Nations recently released the report “World Economic Situation and Prospects in 2023″, predicting that China’s economic growth rate will reach 4.8% in 2023. UBS Group also stated in a report a few days ago that as an engine of global growth, China’s economic growth not only benefits Chinese companies and people, but also brings benefits to many developing and developed countries.
Wolfgang Bicheler, CEO of Germany’s EKD Group, is full of confidence in China’s economy. He said that the Chinese economy plays a “fundamental role” in the recovery of the global economy, and the stability of China’s supply chain is related to the development of the global market.
“The boom in consumption during the Spring Festival has provided impetus to the world economy,” said Magdi Hamid, an economics professor at Cairo University in Egypt. Villen Phetchaon Paddy, director of the Thailand-China “Belt and Road” Research Center, believes that with the further recovery of trade and personnel exchanges, the Chinese economy will resume rapid growth this year, boosting confidence in the recovery of the world economy.
Mexico’s “High Level” magazine published an article saying that China is an important market for tourism, automobiles, and food consumption in the world. China’s strong economic growth means huge demand, which is a positive factor for all countries. Yasin Anwar, former governor of the Central Bank of Pakistan, said that in 2023 the world will witness a strong rebound in China’s consumer demand, and China’s economic policies to promote growth will benefit more economies around the world. (Participating reporters: Liu Yanan, Huang Zemin, Yao Bing, Wang Zhongyi, Yin