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Chongqing's Consumption Surge: A Reflection of China's Robust Economy | Insights

By RAN ZHENG|Oct 08,2023

Chongqing- The "Golden Week" serves as a crucial indicator of China's economic health. This year, due to the Mid-Autumn Festival, National Day, and the 19th Asian Games, sectors like dining, travel, tourism, and hospitality witnessed strong consumption, powering the holiday's economic uptick.

The interior of InCity Chongqing incorporates Chongqing's local elements, such as valley village, river, and mountain. (Photo/ Zheng Ran)

On October 5, e-commerce platform Meituan's data highlighted that during the National Day holiday "Golden Week," national daily service retail spending surged by 153% compared to figures of 2019, marking the most robust National Day holiday in the past five years. 

Chongqing, alongside Shanghai, Beijing, Chengdu, and Shenzhen, secured a spot in the top five for consumer spending. According to China UnionPay, Chongqing's holiday market saw a consumption rise of 15.1% year-on-year, a 7.9% increase from 2019 figures. 

Diverse dining and shopping options

With a national increase of 254% in dine-in consumption from 2019, eateries in Chongqing witnessed long queues becoming the norm. Cross-provincial tourists like Li Xiaorui from Shandong flocked to the city, eager to indulge in the local culinary delights, such as Chongqing hot pot and Xiaomian.

For example, Sanbuti Hot Pot, a popular local eatery, had almost doubled the visitor count from previous years, with business booming beyond expectations.

"The Chongqing food service sector has been gearing up for the holidays by early hiring, introducing new offerings, and leveraging group buying plus delivery," said an official from Chongqing Municipal Commission of Commerce. "The city's dining sector saw a 29.2% annual growth and a 13.4% increase compared to the same period in 2019."

Chongqing's beauty also drew visitors with its unique attractions like Hongyadong, Raffle City Chongqing, and the "8D magic city" landscape. A 145% uptick in travel orders compared to last year made Chongqing a top travel choice.

The travel portal Qunar data indicates that cities like Chongqing, Beijing, and Chengdu ranked among the country's top ten tourist destinations this holiday. Their diverse dining and shopping options are a significant reason for their popularity, combined with unique and tailored entertainment experiences that attract tourists.

Newly opened shopping centers and stores 

New shopping centers and stores also opened, adding to the city's allure. The InCity Chongqing opened on September 28 has marked the inaugural appearance of numerous renowned international brands in southwestern China.

On the same day, Freshippo, Alibaba Group's proprietary retail chain for groceries and fresh goods, unveiled two new stores in Chongqing. 

"These updated Freshippo stores not only offer a wider range of products but also feature areas dedicated to Chongqing specialties and hot pot, capturing the city's essence," said Tan Zhengrong, the Regional General Manager of Freshippo in Chongqing. 

The city also hosted events like the 2023 Chengdu-Chongqing Economic Circle Consumption Festival, drawing thousands of brands and merchants, resulting in a 19.9% year-on-year increase in consumption.

On September 28, crowds watched the lion dance in front of the Galeries Lafayette store. (Photo/ InCity Chongqing)

Chongqing blocked the bridge for tourists 

Like a long red dragon, Qiansimen Bridge, brightly lit and straddling the Jialing River, is known as the best place to watch Hongyadong night views. During the "Golden Week," Chongqing has blocked the two-way traffic of the Qiansimen Bridge to accommodate tourists who would love to enjoy the views.

Qiansimen Bridge during the "Golden Week" closed for best photo-taking spots. (Photo/ Chongqing Police Office)

Special measures, like 72 hours unlimited Chongqing Rail Transit ticket, extended transit hours, and power banks on the bridge, ensured visitors had a pleasant stay. Data from Fliggy showed Chongqing's high-star hotel bookings and homestay reservations skyrocketed, with popular spots like Hongyadong seeing a 6% visitor increase from 2019.

Xiao Peng, a researcher at the Qunar Big Data Research Institute, commented, "The travel industry had to accelerate its recovery to meet these needs. Current data suggests that the travel market has stabilized and returned to its usual state."

Li Jiwei of the Meituan Research Institute emphasized that Golden Week's consumption surge reflects China's economic resilience and continued economic bounce-back.


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