the hot “golden week” highlights china’s economic potential｜beijing news commentary
2024-10-06
한어Русский языкEnglishFrançaisIndonesianSanskrit日本語DeutschPortuguêsΕλληνικάespañolItalianoSuomalainenLatina
▲on october 3, two young tourists took a group photo holding the national flag at the corner tower of the forbidden city. photo by beijing news reporter xue jun
since the start of the national day "golden week", the domestic consumer market has shown a booming scene.
according to cctv news, in the three days before the holiday, an average of nearly 300 million people traveled every day. major scenic spots and museums are crowded with people. so far, the number of ticket orders nationwide has increased by more than 37% year-on-year; the latest data from the ministry of commerce shows that in the three days before the holiday, 1.0455 million consumers purchased eight major categories of home appliances (refrigerators, washing machines, tvs, air conditioners, computers, water heaters, etc.). household stoves and range hoods) 1.5461 million units, with sales reaching 7.357 billion yuan.
as of 7:11 on october 5, the total box office (including pre-sales) during the 2024 national day period (october 1-october 7) exceeded 1.5 billion yuan; the real estate market is also at its peak, with beijing, shanghai, guangzhou and shenzhen etc. the real estate market is extremely lively. some media reported that a real estate project in guangzhou even sold out every 30 seconds on average, and passenger flow increased fourfold. sales offices in beijing, shanghai, guangzhou and shenzhen became the most "cost-burning" attractions during the golden week...
each of these fiery scenes shows that the economic vitality of the whole society is fully demonstrated during the long holiday, and once again confirms the saying that my country's economic fundamentals and market are vast, the economy is resilient and has great potential.
in fact, the hot potential of the "golden week" has already begun to "gather strength" before the national day. on september 24, a number of major policies were launched, involving rrr cuts, interest rate cuts, existing mortgage interest rates, etc. on the 26th, the political bureau of the central committee of the communist party of china held a meeting to make specific arrangements on how to increase the countercyclical adjustment of fiscal and monetary policies, help enterprises overcome difficulties, and maintain the bottom line of people's livelihood.
these have greatly boosted market confidence and quickly received market feedback. on september 30, the day before the national day, a-shares surged, with trading volume hitting a new high of over 2.6 trillion yuan. even before the "golden week" has begun, the domestic market has already cheered up, and people can clearly see that the chinese economy is receiving a strong boost.
this optimism has obviously spread from the capital market to all aspects of the national day "golden week". whether it is ordinary residents' travel, shopping, watching movies, or large-scale consumer investments such as home purchases, they have begun to show signs of recovery and prosperity.
moreover, although it is the holidays, people everywhere are not idle, and various stimulus policies are still being introduced intensively, demonstrating china's persistent efforts to boost consumption.
for example, beijing has mobilized various market entities across the city to carry out nearly 400 special activities to provide citizens and visitors to beijing with a comfortable and convenient golden autumn consumption experience; shanghai has invested 500 million yuan in municipal fiscal funds, targeting catering, accommodation, movies, sports, etc. service consumption vouchers were issued in various fields; guangxi launched more than 300 national day-themed consumption promotion activities, etc.
therefore, the positive market feedback during the national day "golden week" is the result of joint efforts: on the one hand, policy dividends are fully released, and on the other hand, people's willingness to consume is strong. this kind of positive feedback from the market also gives people great confidence - the fundamentals of china's economy are still solid, and policies are precise and on target. the two complement each other and move in the same direction.
of course, objectively we must also see that some new situations and problems have emerged in the current economic operation, which require appropriate responses and active actions. especially as we enter the fourth quarter, various economic indicators will face the test at the end of the year. then, it is particularly important to maintain policy consistency and help china's economy further climb over the hurdles.
in fact, some experts have pointed out that the intensive introduction of policies will help stabilize growth and expectations, and my country still has sufficient fiscal, monetary and financial policy space. macroeconomic policies are expected to be further strengthened in the future, and the foundation for china's economic recovery still needs to be further consolidated. .
in addition, not long ago, foreign investment institutions such as goldman sachs, ubs, and morgan stanley were optimistic about the prospects of chinese assets, and many institutions upgraded their ratings of chinese stocks. this is also a vote of confidence cast by the international community in the chinese economy. the next stop of the chinese economy is still optimistic about the world.
from this perspective, the booming national day "golden week" consumption showed the world the depth and solidity of china's economy. i believe that various data performances during the "golden week" will be a good sign for economic and social development - conveying warmth to the whole society, gathering social consensus and determination, and promoting the chinese economy to ride the wind and waves and achieve steady and long-term development.
written by liu zao (media person)
editor/xu qiuying
proofreading/liu jun
