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01:27
China: Growing offline, holiday spending fuel China's consumption growth in October
Storyline: China's consumption market sustained steady growth in October, fueled by robust offline consumption in third- and lower-tier cities and rising holiday spending, according to the latest data released by the State Information Center. In October, the index for offline consumption intensity rose by 17.3 percent year on year. First-tier cities saw an increase of 18.9 percent, while second-tier cities grew by 14.5 percent. Third-tier cities and below posted a striking 31.2 percent year-on-year gain. "Consumption growth is increasingly shifting from traditional urban centers toward broader lower-tier markets. This transition is driven by the expanding reach of digital economy and innovative consumption concepts brought by 'returning youth' who went back to their hometowns from larger cities, collectively fueling the quality-driven upgrading of county-level markets," said Zhang Linshan, a researcher at the Academy of Macroeconomic Research, National Development and Reform Commission. Cultural and tourism consumption exhibited robust growth in October, bolstered by the National Day holiday from Oct 1 to 8. During the eight-day holiday period, China recorded 888 million domestic tourist trips, generating tourism revenue of 809 billion yuan, marking a substantial increase compared to the same period in the previous year. "A new dual-driven pattern of the consumer market is taking shape, characterized by the sustained expansion of lower-tier markets and the growing boom of cultural and tourism consumption. This profound structural shift is injecting fresh and robust momentum into economic recovery. As various targeted consumption promotion policies continue to take effect, China's consumer market is poised to achieve qualitative and quantitative improvements, further strengthening consumption's role in driving economic growth," said Xing Yuguan, deputy director with the general office of the big data development department under the State Information Center. Shotlist: FILE: Shaanxi Province, northwest China - Date Unknown: 1. Aerial shot of city view 2. Various of customers at shopping mall FILE: Zhengzhou City, Henan Province, central China - 2025: 3. Various of customers at beverage shop Beijing, China - Recent: 4. SOUNDBITE (Chinese) Zhang Linshan, researcher, Academy of Macroeconomic Research, National Development and Reform Commission: "Consumption growth is increasingly shifting from traditional urban centers toward broader lower-tier markets. This transition is driven by the expanding reach of digital economy and innovative consumption concepts brought by 'returning youth' who went back to their hometowns from larger cities, collectively fueling the quality-driven upgrading of county-level markets." FILE: China - Exact Date and Location Unknown: 5. Various of tourists, performers Beijing, China - Recent: 6. SOUNDBITE (Chinese) Xing Yuguan, Deputy Director, general office of big data development department, State Information Center: "A new dual-driven pattern of the consumer market is taking shape, characterized by the sustained expansion of lower-tier markets and the growing boom of cultural and tourism consumption. This profound structural shift is injecting fresh and robust momentum into economic recovery. As various targeted consumption promotion policies continue to take effect, China's consumer market is poised to achieve qualitative and quantitative improvements, further strengthening consumption's role in driving economic growth." FILE: China - Date Unknown: 7. Various of scenic spot, tourists [Restrictions: No access Chinese mainland]
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