This year’s Chunjie festivities coincide with proactive measures taken by the Chinese government to invigorate domestic consumption within the country.
At the end of January, the Ministry of Commerce of the People’s Republic of China designated 2024 as the “Year of Stimulating Consumption.” In anticipation of the Spring Festival, exhibitions and fairs showcasing the upcoming Lunar New Year were organized in several cities nationwide, including Beijing.
Local media reports suggest that the Spring Festival is poised to witness a surge in consumption, commencing on February 10. The Chinese government aims to bolster domestic demand, transitioning from post-pandemic recovery to fostering sustainable consumption growth.
Simultaneously, there has been a surge in tourism and a notable increase in interregional passenger traffic.
According to projections from the Ministry of Transport of the People’s Republic of China, approximately 9 billion trips will be made by Chinese residents during the seasonal population migration for the Lunar New Year. On the first day of Chunyun, the travel period surrounding the festival, nearly 190 million passenger trips were recorded, marking a 20% increase compared to last year.
During the holiday period, Chinese tourists embark on overseas travel excursions. Bookings to destinations such as Singapore, Malaysia, and Thailand from China surged 15 times higher compared to the previous year during the Chunjie period.
This year, the Chinese New Year festivities will span from February 10 to 17, offering a week of joyous celebrations and cultural observances throughout the country.
