Tourists visit Changdian temple fair to celebrate the Spring Festival in Beijing, capital of China, Jan. 30, 2025. (Xinhua/Ju Huanzong)
BEIJING, Feb. 15 (Xinhua) -- As the Year of the Snake unfolds, China's economy is setting the stage for dynamic growth, with consumption, high-quality development and the capital market presenting new growth drivers, signaling a strong recovery and a shift toward more sustainable and innovation-driven development.
BOOMING CONSUMPTION
China saw vibrant consumer spending during the recent Spring Festival holiday, with standout sectors including tourism and services.
Domestic travel spending during the eight-day holiday, which ended last Tuesday, reached 677 billion yuan (94.4 billion U.S. dollars), representing a 7 percent increase from the same period last year, according to data released by the Ministry of Culture and Tourism.
Homestay businesses flourished during the period, attracting tourists with personalized lodging experiences marked by local cultural characteristics. Their sales revenues increased 12.6 percent compared to the Spring Festival holiday last year.
This year's holiday also saw a surge in enthusiasm for winter sports and leisure, with attractions such as the Harbin Ice-Snow World attracting over 610,000 visitors.
The 2024-2025 winter season is expected to see some 520 million trips, generating over 630 billion yuan in tourism revenue, according to a report released by the China Tourism Academy.
China's Spring Festival holiday box office revenue climbed to a record-breaking 9.51 billion yuan, according to the China Film Administration. The number of holiday moviegoers also soared, with 187 million people packing out theaters.
Strong participation in China's policy-backed consumer goods trade-in program boosted holiday market consumer sentiment. Household appliance and audiovisual equipment sales revenues surged 166.4 percent from last year's holiday figure, and sales of communication devices jumped 181.9 percent, according to the State Taxation Administration.
Since last year, "trade-in" has become a common term in China's consumer market, with the national trade-in campaign driving steady retail sales growth.
HIGH-QUALITY DEVELOPMENT
Immediately after the holiday, many regions across China held their first official meetings of the new year, focusing on such areas as strengthening the real economy, optimizing the business environment, and advancing technological innovation to drive high-quality economic and social development.
Guangdong, a major manufacturing province, has released a 2025 action plan to build a modern industrial system with an annual investment of 1 trillion yuan, including 380 industrial projects in high-end equipment manufacturing, new materials, petrochemicals, steel, and other sectors.
Shanghai held its annual city business environment conference for the eighth consecutive year and also released an action plan, introducing 58 measures, including measures to optimize overall services for enterprises and improve business-related supervision and inspections.
In Zhejiang, the provincial government is working to foster the deeper integration of technological and industrial innovation, and to establish a collaborative framework that brings together universities, platforms, enterprises and industrial chains.
Likewise, central China's Hubei Province and the southern island province of Hainan are focusing on technological innovation as their key development direction.
UPBEAT MARKET OUTLOOK
Global financial institutions are optimistic about China's capital markets after the holiday, reinforcing the country's often underestimated capacity to sustain innovation.
As investors become more aware of this innovation, the valuation gap between China and emerging markets will narrow, and foreign capital inflows will pick up, said Desmond Kuang, chief investment officer for China at HSBC Global Private Banking and Wealth.
James Wang, head of China Strategy at UBS Investment Bank Research, said that thematic trading could be a key feature of this year's equity market.
Thematic trading could be driven by the uncertain yet potentially pervasive nature of AI applications -- which could lead to revenue growth for beneficiaries -- and by a moderately loose monetary policy that supports equity valuations, Wang said in a research note.
西安碑林博物馆14日起局部开放 门票不分淡旺季每人次10元 中新网西安1月12日电(记者 阿琳娜)记者11日从西安碑林博物馆获悉，该馆自1月10日起采用低票价运行模式，并于1月14日起仅对外开放孔庙古建筑群区域。 多地多部门走访逾80家深市公司 集中“会诊”破解发展难题 本报记者 田 鹏 在部署走访上市公司工作、推动上市公司高质量发展全国视频会议1月29日召开后，多地紧锣密鼓组织专班调研走访上市公司，深交所作为证券 中新经纬2月18日电 据微信号“中国铁路”18日消息，2月17日正月初八，春节假期最后一天，全国铁路发送旅客1606.7万人次，连续4天刷新春运单日旅客发送量历史新高；春节假期(2月10日至17日)，全国铁路累计发送旅客9946万人次 龙年春节档的卖相与怪相 龙年春节档迎来尾声。回望春节前夕，无超级大片，多数影片都是熟面孔且不举行首映，观众进影院如开盲盒。以“贾玲减重100斤”为首的各种营销策略铺天盖地袭来，一度让部分观众产生逆反心理，对 “新年刚过，我已经买好了十一旅游的机票” 中新网北京2月23日电(张钰惠)在年初就买好全年的旅行机票，是一种怎样的体验？近日，三亚、哈尔滨等网红城市的天价返程机票引发关注。为了最大程度上避开高价机票，压缩旅 春节档票房破纪录，希望不会成为难以翻越的大山 春节档是全年电影的风向标，优异的春节档票房成绩，会鼓励从业者加倍努力，也会给市场增添希望，但不排除今年春节档会成为一座难以翻越的大山。 _______________ 。本文链接：China's economy kicks off new year with fresh trendshttp://www.sushuapos.com/show-5-46293-0.html
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