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Experts Heyang, Yushun & Gao Junya delve into the Spring Festival spending surge in China. Topics include travel challenges, movie-watching trends, female talent in films, economic boosts, changing traditions like red envelopes, and the rise of pet services during the holiday season.
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Quick takeaways
- Spring Festival holiday fuels consumer spending with 2.3 billion passenger trips and 8 billion RMB box office revenue.
- Increased travel during the holiday season boosts demand for pet sitting services.
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Boosting the Economy with Spring Festival Spending
The Spring Festival holiday in China has become more than just a time for family reunions, as it now fuels a surge in consumer spending. With the longer holiday period, China has seen a massive influx of 2.3 billion passenger trips during the festival. This includes 99 million train journeys, over 2 billion road trips, 9 million water routes, and around 18 million flights. The increased travel and spending during the holiday season have positively impacted the economy and shaped market trends, with Southeast Asian countries emerging as popular destinations for outbound travel.
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