Holiday helped step on the gas to give consumption a boost

During the National Day holiday week, 422 million domestic trips were made, down 18.2 percent yearon-year and 60.7 percent of the number of trips made in the same period in 2019. Tourism revenue reached 287.21 billion yuan ($40.36 billion), down 26.2 percent year-on-year and 44.2 percent of the same period in 2019.

Although China's domestic consumption enthusiasm during the seven-day holiday was restricted to some extent, some major tourist attractions were still crowded.

The momentum of China's domestic consumption has been dampened because of the lingering pandemic, but the overall momentum still exists. Had it not been for the pandemic, the National Day economic data would undoubtedly have been better. This demonstrates that China's huge market and the consumption vitality of its large population will constitute a solid foundation for its economy.