Hundreds of millions of domestic tourists have boosted China’s economic recovery over its Golden Week national holiday, even as concerns linger over consumer spending.
There were 637m trips in China over the eight-day holiday this year, which drew to an end on Thursday, generating revenue of Rmb466.6bn ($69.5bn), data from the Ministry of Culture and Tourism showed.
The holiday is seen as an important barometer for consumer spending in the world’s second-largest economy. China’s third-quarter gross domestic product data, which will be released this month, will also be closely examined for signs of how other economies might recover from the pandemic.
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