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Economic Watch: China's consumption continues to rebound amid swift economic recovery 环球讯息

Xinhua   2023-05-02 15:18:08

TIANJIN,May1(Xinhua)--Afterathrillinggo-kartexperienceataracetrackwithroaringenginesasinthescenesof"TheFastandtheFurious"movies,JackChanenjoyedhis"RomanHoliday"inanItalian-stylebusinessdistrictinnorthChina"sTianjinMunicipality.

Chan,whohailsfromSingapore,hasbeenlivinginChinafor20years.HisworkentailsperennialtravelsbetweenBeijingandTianjin.

"Inmyleisuretime,IalwaysgotoTianjin"sFlorentiaVillagebusinessdistrict,whichisnearBeijing,forshoppingandentertainment.Itoffersmemoreconsumptionchoicesandfreshexperiences,"Chansaid.


(资料图片)

Withmorethan300internationalbrands,immersiveentertainmentconsumptionscenariosandanintelligenttourguide,thebusinessdistricthasembracedrobustconsumptionvitality,especiallythisyear.

AsoneofTianjin"sfeaturedshoppinghotspots,thebusinessdistrictwelcomedmorethan1millionpassengervisitsinJanuary,hittingarecordhigh.Duringthe2023SpringFestivalholidayalone,itregistered300,000visits,withaturnoverof160millionyuan(about23.2millionU.S.dollars).

HowardLi,boardchairman&CEOofWaitexGroup,oneofthemaininvestorsinthebusinessdistrict,saidthecompanyplanstoaddmorethan30projects,withatotalinvestmentofover10billionyuan,thisyear.

Inrecentyears,Tianjinhastakenconcretestepstoenhanceconsumerexperiences,increasethe24-hoursupplyofgoodsandservices,andconstantlyimproveconsumersatisfaction,convenienceandcomfortlevels.

SunJiannan,directorofthemunicipalcommissionofcommerce,saidTianjinisexpectedtobecomeaninternationalconsumptiondestination,gatheringglobalconsumptionresourcesandattractingworldwideconsumersthroughyearsofconstructionefforts.

AccordingtotheNationalBureauofStatistics,China"sdomesticconsumptionkeptwarmingup,withtheretailsalesofconsumergoodsincreasingby5.8percentyearonyearinthefirstthreemonths,totalingaround11.49trillionyuan.InMarchalone,retailsalesjumped10.6percentyearonyear.

Thegraduallyimprovedconsumptionmarkethaspositivespillovereffectsfortheworld.Forinstance,China"srecoveringoutboundandinboundtravelsareinjectingnewimpetusintotheglobaltourismmarket.

DatashowedthatthenumberofinboundpassengersonTianjinAirlines"internationalflightsincreasedby87.8percentyearonyearsincethebeginningoftheyear.

InJuly2021,Beijing,Tianjin,Shanghai,GuangzhouandChongqingtooktheleadinChinainbuildinginternationalconsumptioncentercities.

"It"saone-stopshoppingexperienceformetobuyinternationalbrandsofcosmetics,foodsandclothingallatthesametimeinamodernshoppingcomplexinTianjin,"said19-year-oldNicoleKuehShianMaun,astudentfromMalaysiastudyingatTianjinUniversity.

Recently,manyinternationalorganizationshaveraisedtheirforecastsforChina"seconomicgrowththisyear.

AccordingtotheInternationalMonetaryFund(IMF)forecast,theworldeconomywillgrow2.8percentin2023,whileChina"seconomicgrowthwillincreasefrom3percentin2022to5.2percentin2023.

"AvibrantChineseconsumermarketwillprovideimportantsupportforworldeconomicrecovery,"saidYuYongding,anexpertwiththeChineseAcademyofSocialSciences.■

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