China's Consumer Market Records Strong Start in Year of the Horse

Beijing (ANTARA) – China’s consumer market has registered a strong start during the nine-day Spring Festival holiday, which concluded on Monday (23 February), with a surge in spending particularly noticeable in six key sectors: catering, accommodation, transport, tourism, shopping, and entertainment, marking a dynamic start to the Year of the Horse.

Chinese authorities have launched a series of policy measures to optimise consumer potential during the festival holiday, with domestic demand remaining the primary engine of economic growth.

Local governments have allocated 2.05 billion yuan (1 yuan = 2,434 rupiah) to directly benefit the public through shopping vouchers, subsidies, and cash assistance during the holiday period.

The Spring Festival, the most important traditional festival in China, typically marks the peak season for consumer spending, driven by traditions of family reunions, travel, culinary activities, entertainment, and gift purchases.