Booming May Day economy example of efficient governance

Transport authorities say the number of passenger trips during the just concluded five-day May Day holiday could reach 265 million, or 53 million trips per day, almost the same as during the 2019 May Day holiday and about 120 percent more from the same period of last year.

The sale of air tickets, entry tickets to tourist sites, and hotel and other bookings significantly exceeded that during the same period in 2019.

While the number of takeouts ordered during the first three days of the holiday was the highest in the past five years, there was also a significant increase in shopping and people flows in key business areas of major cities on the first two days.

Consumption data during the holiday should not be compared with last year, but with 2019, as production and business was badly hit during the same period of last year because of the novel coronavirus outbreak.

China's consumer market is recovering, with available data showing strong domestic demand.

This means China's efforts to promote a new development paradigm with the domestic market as the mainstay and domestic and international markets mutually supporting each other are yielding fruit.

The difficulty in getting tickets to major scenic spots during the holiday shows people's rising consumption enthusiasm.

Thanks to its success in largely controlling the novel coronavirus pandemic, China's domestic market has basically returned to normal, and people's increasing willingness to travel and enjoy holidays have injected new vitality into the domestic consumer market.

The World Bank and the International Monetary Fund have both predicted that China's economy will grow by more than 8 percent in 2021. The 18.3 percent year-on-year GDP growth in the first quarter is in line with the forecasts.

When the digital renminbi payment service is launched, it will also facilitate the digital transformation of domestic consumption. And it will gradually open up a new era of consumption in China and provide new impetus to its digital economy.

The booming holiday economy during the May Day holiday also signifies that China has not only largely contained the pandemic, but also provided the world with the example of Chinese-style governance.