Chinese Foreign Ministry spokesperson Wang Wenbin Photo: mfa.gov.c

China’s domestic consumption and tourism during the “Golden Week” holidays has reaffirmed the economy’s strong resilience, potential, and vitality, Chinese Foreign Ministry spokesperson Wang Wenbin said on Wednesday.

The remarks came after some overseas media outlets, impressed by China's tourism boom, ran articles stating that Chinese people's travel enthusiasm reached new heights during the eight-day-long holidays, showcasing the vitality of the Chinese economy and the consumer market.

China's domestic tourism experienced a notable rise, with a 4.1percent increase in the number of tourists and a 1.5 percent increase in revenue compared to 2019 levels, Wang said, citing official data.

Shopping on e-commerce platforms saw a significant boost, with daily average consumption surging by 153 percent compared to the same period in 2019. The national railway system delivered 195 million passengers trips during the travel rush and trips made in a single day broke the record 20 million for the first time.

The impressive consumption momentum and overall improvement of the Chinese economy is also keenly felt by foreign media outlets and investment banks. 

Singapore's Lianhe Zaobao noted that during the Golden Week holidays local attractions and shops in Singapore experienced a surge in visitors and the arrival of Chinese travelers helped boost local consumption.

The Financial Times, citing economists, reported that China's Golden Week holidays could be one of the busiest holidays ever, attributing the strong performance to China’s economic improvement in August. 

Recently, international financial institutions such as JPMorgan Chase & Co, Goldman Sachs, Citigroup, Deutsche Bank, and ANZ Bank have all raised their forecasts for China's economic growth this year to between 5 to 5.5 percent. Additionally, the United Nations Conference on Trade and Development predicted that China will continue to be a major contributor to global growth this year, Wang said.

The strong increase in spending during the Mid-Autumn Festival & National Day holidays shows that China's economy has a huge potential for expansion, Wang said.

As the macroeconomic policy continues to take effect, China's consumption potential will be further unleashed, leading to sustained improvements in the economy. This will support global economic development and create more opportunities for shared prosperity, Wang added.