National Day holidays data rebutting claims about consumption downgrading

China’s National Day holidays consumption grew about 8 percent year-on-year, to 416.9 billion yuan ($60.7 billion) while a series of consumption upgrade trends have emerged, media reported on Sunday.

From Monday to Thursday, domestic tourism sector recorded total revenues of 416.9 billion yuan, which increased 8.12 percent year-on-year, according to domestic news site thepaper.cn. Some popular scenic spots have reached their maximum receiving capacity and local authorities have launched a responding mechanism at peak hours, thepaper. cn said, citing the Ministry of Culture and Tourism. The overall tourism order is sound and stable, it noted.

Also, some trends have emerged during the weeklong National Day holidays, showing that China’s consumption sector has been upgrading.

Some high quality scenic spots have attracted a large number of tourists, according to media reports. Meanwhile, consumers are willing to spend more on quality food and beverages. The number of orders for wine surged 58.9 percent year-on-year on domestic foodordering platform ele.me.

Recently, discussion has been very heated online whether China is experiencing a consumption downgrading. And some media reports claimed that China’s middle class – formerly big spenders at home and overseas as they chased high-end products – were economizing by buying cheaper products.

However, recent data showed that more people are willing to buy expensive Australian lobsters and Hokkaido snow crab.

The total turnover of imported products for the first three days of the holidays from October 1 to 3 on Alibaba’s e-commerce platform Tmall grew 100 percent year-on-year, according to the report by thepaper.cn.

Also, millennials are seeking to personalize their consumption. Electronic products such as sports cameras, noise-reducing headphones and drones are becoming favorite items for those who love traveling, according to the media report.