China new year holiday spending surges past pre-pandemic levels
People gather to look at a giant dragon figure at a park in Beijing on February 9, 2024, which marks the eve of the Lunar New Year of the Dragon. – Copyright AFP GREG BAKER
China’s new year holiday spending last week surged past pre-pandemic levels, official figures showed, a rare bright spot for an economy struggling with sluggish consumption and deflation.
Domestic spending on entertainment, dining and travel soared during this year’s “Golden Week”, which officially ended on Saturday, according to a statement from Beijing’s Ministry of Culture and Tourism on Sunday.
Chinese travellers made 474 million trips across the country during the eight-day break, up 19 percent from 2019, the ministry said — the world’s largest annual migration.
And domestic spending on tourism came i
