Vibrant Festive Markets Signal China's Robust Economic Momentum

Deep News
Yesterday

As the Spring Festival approaches, the market for holiday goods is thriving with ample supply and stable prices, showcasing strong demand and supply dynamics. On the production side, output is plentiful and the supply chain is well-extended. As of January 10, the area of vegetables planted nationwide exceeded 77.1 million mu, an increase of over 1.9 million mu compared to the same period last year, reflecting a solid production foundation. Supplies of meat such as pork, beef, mutton, and poultry, as well as fruits and aquatic products, are also abundant. On the consumption side, a wide variety of products is available, with sufficient quantities and stable prices. Particularly in agricultural wholesale markets, bustling crowds, vendor calls, bargaining, and the sounds of moving vehicles create a busy and lively atmosphere.

The Spring Festival, the most important traditional holiday for the Chinese nation, is also a peak season for consumption. With the upcoming Year of the Horse, the holiday goods market is gradually becoming more prosperous. Bright red lanterns and character "Fu" decorations adorn venues, swaying in the wind; sausages and cured meats shine with vibrant colors, emitting a rich smoky aroma; nuts, candies, and other treats are neatly arranged in a wide array of varieties. From urban supermarkets to rural markets, and from online platforms to offline exhibitions, everything from festive ingredients and gifts for visiting relatives to traditional decorations and cultural creative products has sparked waves of enthusiastic consumption, bringing the festive atmosphere to life.

The lively scene in the holiday goods market not only reflects the improvement in people's living standards but also serves as a vivid demonstration of China's advantages as a super-sized market. Consumption is the primary engine driving economic growth. In 2025, with the implementation and effectiveness of policies aimed at expanding domestic demand and promoting consumption, China's consumer market is expected to grow steadily, with new consumption drivers continuing to strengthen, further highlighting its role as the main engine of economic growth. The annual economic growth rate is projected to be around 5%, with the total economic output reaching 140 trillion yuan. During the 14th Five-Year Plan period, China's economy achieved four consecutive leaps, surpassing new thresholds of 110 trillion, 120 trillion, 130 trillion, and 140 trillion yuan. Globally, China's contribution to world economic growth is estimated to be around 30%.

The bustling Spring Festival consumption scene allows people to feel the strong resilience and vitality of the Chinese economy, capturing positive signals of its upward trajectory. Expanding domestic demand is a strategic move. With a population of over 1.4 billion, the world's most comprehensive industrial system, and a per capita GDP exceeding $10,000, China is the world's largest and most promising consumer market. By focusing on consumption as the primary engine and taking multiple measures to unleash consumption potential and stimulate consumption vitality, more momentum will be injected into the economy's steady and positive growth. For instance, as consumption upgrading accelerates, technological innovation can drive industrial upgrades, unlocking potential in areas such as cultural tourism, sports events, dining, and smart wearables, while fostering new types of consumption like digital consumption, green consumption, and the silver economy. By deepening the alignment of supply and demand and promoting a virtuous cycle at a higher level, the foundational role of consumption in driving economic growth will be further enhanced.

Consumption connects the macroeconomy on one end and millions of households on the other. Leveraging the ubiquitous internet, Spring Festival consumption is even more vibrant. Recently, nationwide activities such as the "Celebrating the New Year with Intangible Cultural Heritage: Tasting the Chinese New Year" theme promotion and related shopping month are underway, bringing numerous intangible cultural heritage items into modern life as holiday goods. As holiday consumption extends from "a few concentrated days" to "several consecutive weeks," the vast consumption potential will be further unleashed. It is certain that by enriching the supply of consumer goods and promoting the deep integration of commerce, tourism, culture, sports, and health, the enormous consumption potential will be further released, continuously consolidating and expanding the momentum of steady economic growth. This will make Spring Festival consumption a true "booster" for stimulating domestic demand, allowing people to savor the richness of life amid the strong festive atmosphere.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Most Discussed

  1. 1
     
     
     
     
  2. 2
     
     
     
     
  3. 3
     
     
     
     
  4. 4
     
     
     
     
  5. 5
     
     
     
     
  6. 6
     
     
     
     
  7. 7
     
     
     
     
  8. 8
     
     
     
     
  9. 9
     
     
     
     
  10. 10