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Economy

Release of domestic demand during the "summer season" to promote consumption and seize the opportunity

2023-07-12   

By mid summer, the summer season begins. The reporter noticed that recently, relevant central departments and local governments have deployed to seize the peak summer consumption season, launch a series of activities such as the Food Festival, the Night Life Festival and the Summer TESCO Group Festival, issue Voucher in catering, home appliances and other fields, increase preferential subsidies and promote consumption. At the same time, more long-term measures are also being planned to establish a solid foundation for sustained consumption growth. As night fell, the Baishamen Cultural and Creative Market in Haikou became lively. Ms. Zheng, a tourist from Henan, and her family of four, came to Hainan for their first vacation and specifically checked in. There are a lot of delicious food here, which meets our expectations, "she said. As the new internet celebrity night market in Haikou, Baishamen Cultural and Creative Market gathers snacks from all over the country, authentic cuisine from Southeast Asian countries such as Thailand, and a wide range of unique handicrafts, attracting a large number of citizens and tourists to experience. Such scenes are not uncommon. The "Night of Nanning" block, located in Liangqing District, also became more lively in the summer. Laser lighting display, food exhibitions, folk customs performances... shouts and music are heard everywhere. In Liuzhou, many tourists came to visit. The "clocking in" online popular snack Luosifen was crowded in the streets. In order to facilitate tourists to visit night markets and eat snacks, Liuzhou has opened a "Night Snack Food Bus" dedicated line, connecting high-frequency "check-in points" for tourists. There are also many cities where night riding is popular. In recent times, the number of cyclists in Guangzhou, known as the "city that never sleeps," has significantly increased, increasing by 20% compared to before the summer season, from 19:00 to 2am, with no decrease in popularity. Beijing Road, Zhujiang New Town, Zoo and other various eating, drinking and entertainment consumption gathering areas are popular and become popular choices for cycling. The surge of people also drives consumption growth. According to Meituan data, since the summer, the daily service categories represented by food and beverage, leisure and entertainment, hotels and homestays have reached their peak in orders throughout the day at 7pm. From the perspective of business circles, Shanghai Disney, Monument to the people's Liberation, Changsha Wuyi Square, Chongqing Guanyinqiao, and Chunxi Road in Chengdu have become the five most active business circles for night consumption in China. Taking Guanyin Bridge in Chongqing as an example, nighttime consumption has increased by about 60% compared to the same period last year. The active night economy in various regions has become a shining light in the consumer market. In fact, consumption has continued to recover since the beginning of this year, breaking out of the upward curve. Previously, in response to a question from the reporter of the Economic Information Daily, Shu Jueting, spokesman of the Ministry of Commerce, said that since this year, the domestic consumer market has accelerated its recovery. In the first quarter, the contribution rate of final consumer spending to economic growth reached 66.6%, becoming the first driving force of economic growth again. In May, the total retail sales of consumer goods increased by 12.7% year-on-year, and increased by 9.3% from January to May, an increase of 0.8 percentage points compared to January to April. This trend is still ongoing. In recent years, the peak consumption seasons such as the Dragon Boat Festival and summer have come one after another, further stimulating the release of consumption potential. On July 6th, the China Federation of Commerce released the China Retail Industry Prosperity Index for July, which showed that the index was 50.1% in July and remained within the expansion range for seven consecutive months. However, the index slightly decreased by 0.8 percentage points compared to the previous month, indicating a slowdown in retail consumption growth. Expert analysis suggests that currently, consumption

Edit:Hou Wenzhe Responsible editor:WeiZe

Source:XinhuaNet

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