Tourism revenue during Mid-Autumn Festival shows 8.7 percent gain in China

Tourism revenue and travel activity in China increased steadily during the Mid-Autumn Festival holidays, offering fresh evidence of stable consumer spending at a critical time when the economy faces persistent downward pressure.

During the three-day holiday that ended on Sunday, 105 million trips were made, increasing 7.6 percent year-on-year, according to the Ministry of Culture and Tourism (MCT) on Sunday. Total tourism revenue grew by 8.7 percent to 47.28 billion yuan ($6.68 billion), the data showed.

The steady gains pointed to the stable spending power of Chinese consumers and their confidence in the economic prospects of the country – a main area of focus for policymakers as they work to address internal and external risks.

Ahead of the holidays and amid rising uncertainty, the government issued several directives to boost consumption, including one released by the State Council, China’s cabinet, on August 23. That document was aimed specifically at encouraging spending in the cultural and tourism sectors. The guideline called for improved services and cultural events to attract visitors and spending.

In one of several positive signs, spending on local cultural events rose, with 76.4 percent of all travelers saying they participated in local cultural events, according to the MCT.

Also, the number of family trips rose 14 percent year-onyear, the ministry said.

In the first half of the year, the Chinese economy grew by 6.3 percent year-on-year, according to the National Bureau of Statistics.