Spring Festival consumption reveals China's new economic momentum
With the Spring Festival just days away, China's annual rush to buy "nianhuo," or holiday goods, is offering a snapshot of an economy in transition, as younger shoppers are reshaping demand, imported products are becoming routine purchases and a government-backed trade-in program is unlocking new consumer spending.
Macro
China updates CPI base year to 2025 to better reflect price changes
China on Wednesday released consumer price index (CPI) data compiled using 2025 as the base year, with the National Bureau of Statistics rolling out the latest base-year update to better reflect changes in consumption.
In-depth
Economic Watch: China's core inflation holds steady as demand recovers
China's core consumer inflation remained stable in January, official data showed on Wednesday, pointing to a gradual recovery in domestic demand, even as headline price growth eased due to base effects from last year's Chinese New Year and lower energy costs.
moreEconomic Watch: How the Spring Festival channels mobility, time and consumption
China's Spring Festival has long been described as the world's largest annual migration. This year, China State Railway Group Co., Ltd. expects 540 million passenger trips during the 40-day travel rush.
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Industries
China aims to build 1.5 trillion-yuan tea industry by 2030
China has issued guidelines to promote upgrading of the tea industry, setting a target for the total size of the full industrial chain to reach 1.5 trillion yuan (about 216 billion U.S. dollars) by 2030.
New growth drivers in sight as China powers up future industries
China is driving continuous breakthroughs in frontier technologies, fostering the development of future industries as part of efforts to cultivate new growth engines.
