The policy and market resonate. The consumption during the May Day holiday demonstrates the resilience of the Chinese economy

According to the data center of the Ministry of Culture and Tourism, 314 million domestic trips were made across the country during the five-day holiday, an increase of 6.4% year-on-year. Domestic tourists spent a total of 180.269 billion yuan on travel, an increase of 8% year-on-year. According to the monitoring of business big data by the Ministry of Commerce, the sales of key retail and catering enterprises across the country increased by 6.3% year-on-year during the holiday. The outstanding performance of the consumer market is not only a set of inspiring statistics, but also reflects the tremendous vitality that China's consumer market has stimulated under the resonance of policy tools and market forces. In just five days, the total expenditure reached 180.269 billion yuan, once again demonstrating the resilience of China's consumer market. For instance, exhilarating music festivals and concerts have become the "new favorites" during holidays. The immersive experience of "music + culture and tourism" created by Changping District, Beijing, has achieved a comprehensive income of 65.9305 million yuan. Also in Beijing, fancy park Tours are highly favored. The city's parks received a total of 9.3183 million visitors, an increase of 4.37% year-on-year. During the first four days of the holiday, the number of applications for subsidies for trade-in of old cars exceeded 60,000, driving new car sales of 8.8 billion yuan. Consumers purchased 3.56 million household appliances of 12 major categories, driving sales of 11.9 billion yuan. 2.42 million digital products such as mobile phones were purchased, driving sales of 6.4 billion yuan. From the beginning of 2025 to 0:00 on May 5th, the number of applications for subsidies for trading in old cars for new ones exceeded 3 million. Consumers purchased 55.16 million units of 12 major categories of household appliances for trade-in and new ones, and 41.67 million digital products such as mobile phones. During the May Day holiday, a new picture of a more resilient and multi-level domestic demand market in China is unfolding. Driven by both policy tools and market vitality, China has sufficient resilience to withstand external environmental shocks and accumulate new impetus in the process of transformation and upgrading. Resource: 三秦都市报