China's consumption market booms during New Year holiday

According to e-commerce platform Meituan, the online transaction volume of dine-in restaurants in China surged 230 percent year-on-year during the first two days of the holiday.

Home parties, stove-boiled tea with chatting, live houses, and KTVs are still popular with young people; the orders for these climbed 225 percent year-on-year during the holiday.

Moreover, theme parks including Harbin Ice and Snow World, Shanghai Disney Resort, and Universal Beijing Resort also attracted the young consumer.