Chinese ring in Year of the Snake with travel, spending boom
As China celebrated the arrival of the Year of the Snake, the festive atmosphere was reflected in a surge in travel and consumer spending. With tourism booming, restaurants bustling, and box offices setting new records, the festivities showcased China's economic vitality.
Macro
China taps ice, snow to fuel economic growth
From winter sports to snow tourism, China is actively tapping into its ice and snow resources to create new growth drivers for the world's second-largest economy, according to multiple officials and experts at a recent roundtable.
In-depth
Economic Watch: China's low-altitude logistics sector takes flight, transforms delivery systems
Since officially launching in June 2024, this drone delivery route has seen the completion of over 1,000 deliveries, with plans to extend the service to mountainous areas during 2025, according to Meng.
moreEconomic Watch: Booming service spending during Spring Festival holiday echoes China's economic vigor
Service consumption was up by 12.3 percent year on year during the Jan. 28-Feb. 4 period, higher than the 9.9 percent increase in goods consumption, data from the country's taxation authority showed.
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Trade
China's annual trade in services exceeds 1 trillion USD, boasting significant potential
China's annual trade in services exceeded 1 trillion U.S. dollars for the first time last year, demonstrating significant potential for further growth.
China remains world's largest trading nation in goods for 8 consecutive years: official
China has maintained its position as the world's largest trading nation in goods during the past eight years.
