Pro-consumption policies boost China's National Day holiday

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Pro-consumption policies boost China's National Day holiday

The heightened consumer enthusiasm and the implementation of pro-consumption policies have helped boost the growth of China's National Day holiday.

During the seven-day Golden Week, various pro-consumption activities were launched across the country to boost spending and sustain the recovery of China's consumer market, said Shu Jueting, a spokesman for the Ministry of Commerce.

Local governments have come up with a wide range of measures, including handing out consumption vouchers, enriching traveling activities and organizing consumption festivals to boost culture and tourism consumption.

READ MORE: People encouraged to stay put during the National Day holidayNational Day holiday.

In Fuzhou, Fujian province, consumption vouchers cost 30 million yuan US $4.23 million during the holiday. Sichuan province organized more than 70 activities, such as cultural and night tours, to encourage spending.

Chen Lifen, researcher with the Development Research Center of the State Council, said local governments have taken vigorous measures this year, and these are accessible to a wider range of consumers.

Travel fervor ran high during the Golden Week, according to Lvmama, a domestic online travel agency. Bookings for holidays through its platform increased by over 87 percent from Sept 11 to 20 compared to the previous 10 days.

Travel goods are increasingly popular on online delivery platforms, which is a reflection of the holiday boom.

The data from Meituan, one of China's many online delivery platforms, shows that searches for travel toothbrushes, travel water bottles and travel shampoo soared by 1,037 percent, 368 percent and 272 percent compared to the previous week.

Sales of outdoor equipment increased sharply with the interest in outdoor recreation growing among many Chinese people. Sales of outdoor photographic equipment, in particular, increased by over 300 percent compared to the previous two weeks, according to data from the e-commerce enterprise JD.com.

Along with the recovery of the tourism sector, the country s catering industry is heating up with restaurant businesses booming during the holiday season.

Restaurant reservations on the National Day holidayNational Day holiday increased by 87.6 percent compared to the same period last year, according to Meituan.

The data also revealed that consumers showed a greater interest in snacks, beverages, pastries and other food items offered by smaller eateries during the holiday.

Sales of home appliances went up, boosted by subsidies from local governments and generous discounts offered by e-commerce platforms.

On the first day of the National Day holidayNational Day holiday customer flow in its physical stores went up by over 200 percent from the day before, and the number of orders placed at its stores increased by 120 percent compared to the previous day, according to data from electronics retailer Suning.

The data shows that its online sales of air purifiers, vacuum cleaners, dishwashers and other advanced home appliances increased more than 100 percent from the previous day.

China has rolled out a number of measures to boost consumption in key fields such as automobiles, green and intelligent home appliances, catering and accommodation, among others.

As pro-consumption measures take effect, the country s consumer market will strengthen the recovery trend and continue to play a major role in bolstering economic growth, said Guan Lixin, a researcher with the Chinese Academy of International Trade and Economic Cooperation.