China's surged consumption on first day of Golden Week holidays

The vast potential of China's domestic consumer market was on full display on Friday, the first day of Mid-Autumn Festival and National Day holidays, as catering and the box office embraced significant increase in business activity. 

Starting from starting from September 29 to October 6, the 8-day-holiday is the longest public holiday of the year. Analysts expect to see a surge in domestic consumption. 

Multiple entertainment and consumption areas in Beijing welcomed crowds of visitors on Friday as 60 major business districts across the capital city saw a total of 6.89 million people visit, an increase of 11.9 percent year-on-year, according to the Beijing Municipal Commerce Bureau on Saturday. 

The bureau also reported total daily sales of nearly 100 shopping malls, supermarket, online and offline stores, restaurants reached 1.39 billion yuan ($190.54 billion), up 40.4 percent year-on-year. 

According to data from Chinese food delivery platform Meituan and Dazhongdianping, a Chinese version of Yelp, as of Friday noon, the volume of dine-in order increased by 110 percent over the first day of 2022 National Day holidays.

China’s total box office (pre-sale included) of new films during the 2023 Golden Week holidays crossed 1 billion yuan as of 21:18 on Saturday, according to ticketing platform Dengta. The top three are all domestic films - Under the Light, Ex-files 4: Marriage Plan and Korean War-themed epic The Volunteers: To the War.