China vows efforts to boost consumption

来源:Xinhua
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An aerial drone photo taken on Feb 2, 2024 shows a view of the Great Tang All Day Mall in Xi'an, capital of Northwest China's Shaanxi province. [Xinhua/Shao Rui]

The annual tone-setting Central Economic Work Conference vowed to vigorously boost consumption, improve investment efficiency, and expand domestic demand on all fronts next year.

While the country used to rely on investment and exports for economic expansion, consumption has increasingly played a predominant role in recent years under its strategy of advancing a "dual-circulation" development pattern, which takes the domestic market as the mainstay while allowing domestic and international markets to reinforce each other.

In the first three quarters of 2024, consumption contributed 49.9 percent of the country's economic growth, substantially surpassing investment and exports, which accounted for 26.3 percent and 23.8 percent, respectively.

Passengers check in at Lianyungang Railway Station in Lianyungang, East China's Jiangsu province, Oct 1, 2024. [Photo/Xinhua]

China's railway network achieved a record-breaking number of trips in the first 11 months of the year, backed by stable economic recovery and a revitalized tourism industry.

According to the China State Railway Group Co, the railway sector handled over 4 billion passenger trips from January to November, the first time this threshold has been reached within a year.

Passengers walk towards the exit at Nanjing Railway Station in Nanjing, East China's Jiangsu province, Oct 6, 2024. [Photo/Xinhua]

According to the data center of the Ministry of Culture and Tourism, in the first three quarters of 2024, village tourism visits increased 15.5 percent yearly to about 2.25 billion, with total revenue up 9.8 percent year-on-year to 1.32 trillion yuan.

Tourists enjoy their time at a homestay in Jinyun village of Beibei district of Southwest China's Chongqing municipality, Oct 15, 2024. [Photo/Xinhua]

People's interest in traditional cultural attractions was reflected in the travel boom, with many flocking to historical sites during this year's holidays.

While venturing to different places, many tourists picked up cultural and creative products as mementos of their trips, and more thoughtfully designed items have started to make their way to market.

Visitors view cultural creative products at the exhibition stand of Tongzhou district of Beijing during the 2024 China International Fair for Trade in Services (CIFTIS) at the Shougang Park in Beijing, capital of China, Sept 15, 2024. [Photo/Xinhua]

A pair of twins play at a cultural and tourism site in Xinghua city, East China's Jiangsu province, Feb 11, 2024. [Photo/Xinhua]

Buyers visits the exhibition section for household electrical appliances during the 136th China Import and Export Fair in Guangzhou, South China's Guangdong province, Oct 15, 2024. [Photo/Xinhua]

An exhibitor promotes spices through live-streaming during the 9th China International Food and Catering Expo in Changsha, Central China's Hunan province, Sept 6, 2024. [Photo/Xinhua]

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