U.S. media: China’s Spring Festival tourism and movie market recovery consumption will lead the economic rebound
Overseas Network, January 29. According to a report by Bloomberg on January 25, after China optimized the epidemic prevention and control measures, the tourism and movie markets during the Spring Festival this year have shown signs of recovery. Consumption is expected to lead the rebound in China’s economic activities this year. .
Bloomberg said that the Lunar New Year is the most important festival in China, and consumption data during the Spring Festival is often regarded as a “barometer” of China’s economic recovery and is closely watched. According to data from the online ticketing platform Maoyan Entertainment, as of around 17:00 on the 24th, the total box office of movies in the four days before the Spring Festival holiday has exceeded 3.6 billion yuan. This figure is higher than the 3.5 billion yuan in the same period in 2022, and also higher than the 3.4 billion yuan in 2019 before the epidemic. According to data from Ctrip.com, from January 21 to January 24, the number of reservations for hotels, homestays and scenic spots in China also exceeded the same period in 2019.
US media further reported that after the peak of the epidemic in China, consumption is expected to lead the rebound in economic activity this year. Business data in the days leading up to the Lunar New Year holiday has fueled optimism that the overall economic recovery will be faster than expected. At present, economists interviewed by Bloomberg have raised China’s economic growth forecasts to 5.1% this year and 5% in 2024, higher than the forecast in December 2022. (Overseas Net Zhang Ni)