According to foreign media reports, during this year's eight day Golden Week holiday, Chinese tourists' consumption surged, exceeding pre pandemic levels,

which may boost people's confidence in China's economic recovery.

     According to Reuters, as China's economy struggles to recover, during the long holiday from September 29th to October 6th, consumption from hotels to 

restaurants is closely monitored in search of clues about the intensity of consumer demand.

     According to data released by Chinese officials on Friday, Reuters calculated that the average single travel consumption during this year's Golden Week holiday 

reached 912.1 yuan. In contrast, the 2019 Golden Week holiday was seven days, with an average travel cost of 830.8 yuan, compared to 680.6 yuan last year.

     According to Reuters, citing a report from Xinhua News Agency, data shows that during the eight day holiday, the number of domestic tourists in China reached 

826 million, a year-on-year increase of 71.3% based on comparable standards and a 4.1% increase compared to 2019 based on comparable standards. Achieved a 

domestic tourism revenue of 753.43 billion yuan, a year-on-year increase of 129.5% based on comparable standards, and a growth of 1.5% based on comparable 

standards compared to 2019.

     Reuters also reported that official data released on the 7th showed that during this year's Golden Week, China's inbound and outbound tourism surged year-on-year, 

returning to 85% of pre pandemic levels.

     According to the report, the National Immigration Administration of China stated that during the long holiday, the daily average number of entry-exit personnel 

reached 1.477 million. This is equivalent to 85.1% of the same period in 2019, an increase of approximately 2.9 times compared to the same period last year.

     The report points out that the rebound in international travel by Chinese tourists will bring good news to many companies around the world that rely on tourism.

     The report mentions that booking platforms and agencies claim that Chinese tourists who want to go abroad prefer cheaper Asian destinations, and Thailand 

has become the most popular choice after introducing a visa free policy.

     According to a report on the website of the South China Morning Post in Hong Kong on October 6th, during the Golden Week holiday that ended on the 6th, 

cities across China experienced a significant "consumption frenzy".

     According to the report, data released by China's local service giant Meituan shows that the daily average consumption of service retail in the country has 

increased by 153% compared to the same period in 2019, and the consumption of dining and dining in the country has increased by 254% compared to the same period in 2019.

     The report also stated that seven days before the holiday, the Ministry of Commerce monitored a year-on-year growth of 9% in sales of retail and catering enterprises, 

while the national demonstration pedestrian street traffic increased by 94.7% year-on-year.

     Feizhu, an online travel platform under Alibaba, stated that the popularity of renting and driving cars during the long holiday period has significantly increased, 

and the number of car rental bookings in China has increased by over 4.6 times compared to 2019.

     According to data from the Lighthouse Professional Edition, as of Friday noon, the total box office of Chinese Golden Week movies exceeded 2.6 billion yuan, 

compared to 1.5 billion yuan last year.

     The report mentioned that as China's economy shows signs of stabilizing, multiple international investment banks have raised their expectations for the 

world's second largest economy's GDP growth in 2023. On Wednesday, Citigroup and JPMorgan Chase raised their forecast for China's growth rate this year from 4.7% and 4.8%, 

respectively, to 5%, in line with the Chinese government's growth targets.