China sets new consumption records

In China, the New Year or Spring Festival celebrations last a fortnight, from New Year's Eve (Saturday 10 February 2024) to the Lantern Festival (Saturday 24 February 2024), which brings the festivities to a close. 

 

The local media are reporting that, according to the statistics already available, consumption has been high. Various sectors of activity (tourism, leisure, food, luxury) have experienced a boom, reflecting the vitality of the Chinese economy.

 

Online transactions rose sharply in both volume and value. NetsUnion Clearing Corporation and card payment giant China UnionPay processed a combined average of 2.63 billion online transactions every day from 9 to 17 February, up 18.6% on the same holiday period last year. The average daily value of transactions increased by 8%.

 

Chinese consumers bought not only local products, but also many food products imported from South America and Oceania, as well as organic foods.

 

Express delivery, according to the National Post Office, delivered around 641 million parcels, representing an 82.1% increase in average daily delivery volume compared to the same holiday period last year.