China boosts consumption during Spring Festival

China has demonstrated strong consumption momentum and released great domestic demand potential during this year's Spring Festival, Economic Information Daily reported on Monday.

Domestic tourists made 251 million trips nationwide with a revenue of 289.20 billion yuan ($45.48 billion) during the seven-day Spring Festival holiday starting Jan 31.

With merchandise featuring Beijing 2022 Winter Olympics mascot Bing Dwen Dwen selling out in rapid fashion, sales of ice and snow sports equipment have also increased greatly.

From Jan 31 to Feb 4 sales of ski equipment on Tmall, the business-to-customer site of Alibaba, witnessed a year-on-year increase of 180 percent and ice sports related products increased by more than 300 percent.

According to data from box office tracker Maoyan Professional, from Jan 31 to Feb 6, the total box office of the 2022 Spring Festival exceeded 5.90 billion yuan, setting a new one-week box office record for the Chinese film industry.

From Jan 31 to Feb 6, China's postal express industry received and delivered 749 million express packages, up 16 percent from the same period last year, according to the State Post Bureau of China.

During the 2022 holiday, a total of 5.01 million passengers were transported by civil aviation, up 40.2 percent year-on-year according to the Civil Aviation Administration of China.

During the same period, 130 million trips were made by railways, highways, waterways and civil aviation, up 31.7 percent from the same period in 2021, according to the Ministry of Transport.

From Jan 30 to Feb 5, total sales for Hainan's 10 off-island duty-free shops reached 1.983 billion yuan, up 144 percent year-on-year, Securities Times reported citing data from CCTV.