China sees consumption boom during 2021 Spring Festival

Moviegoers line up to watch fantasy film The Yinyang Master on Wednesday in Shanghai. Chinese box office hit a new record of more than 7.5 billion yuan ($1.16 billion) during the Spring Festival holidays. Photo: IC

Graphics: GT

From heated local tourism to surging dining and online shopping, China saw a consumption boom that was above the expectations of many during the weeklong Spring Festival holiday, and experts said the trend should continue after COVID-19 vaccines become widely available in mid-2021.

The boom was not all usual, particularly after China’s efforts to discourage people from going back home during the Spring Festival to prevent a resurgence of the pandemic – a move that raised some worries about lackluster…