Commentary: 2024 ushers in vibrant Chinese economy

(Xinhua) 09:19, January 13, 2024

A drone photo shows tourists having fun in front of a giant snowman near the Songhua River in Harbin, the capital city of China's northernmost province of Heilongjiang, on Jan. 9, 2024. (Xinhua/Zhang Tao)

BEIJING, Jan. 12 (Xinhua) -- Despite the skeptical outlook portrayed by many Western media regarding the Chinese economy in 2024, the unfolding reality reveals a different narrative. This year kicked off with a robust showcase of economic vitality.

Instead of sluggish signs, the new year has been accompanied by booming consumption and tourism markets. According to data released by the Ministry of Culture and Tourism, during the three-day New Year holiday, there were 135 million domestic tourist trips, marking an increase of 155.3 percent compared to the same period in 2023.

The tourism fever is particularly evident in Harbin, the capital of China's northernmost province of Heilongjiang, which recently gained traction for its snowy scenes and warm hospitality. During this year's three-day New Year holiday, it received some 3.05 million tourists, a record high, bringing in a tourism revenue of 5.91 billion yuan (about 832 million U.S. dollars).

This traveling feat did not come out of nowhere. Provincial regions such as Beijing, Hunan, and Guangdong have enhanced the consumer experience by laying out measures such as distributing consumer vouchers, reducing or exempting entrance fees, and organizing themed events to stimulate consumption. These efforts all aim to better meet the diverse and quality-oriented consumption needs of the public.

Beyond the travel sector, China's manufacturing industry has also exhibited robust growth, and this trend is projected to continue this year.

The past year has seen both the production and sales volume of the Chinese automobile industry reach historic highs, hitting 30.16 million and 30.09 million units, respectively, and marking a year-on-year increase of 11.6 percent and 12 percent. The production and sales number of new energy vehicles grew 35.8 percent and 37.9 percent, respectively.

There have also been other achievements that indicate a good start to the year. On Tuesday, China's self-developed passenger aircraft C919 commenced operation on a new route connecting the megacities of Beijing and Shanghai, and China's first domestically-built large cruise ship, the Adora Magic City, completed its maiden commercial voyage on Sunday.

As China is keen to promote industrial innovation through technological innovation, foster new industries, new models and growth drivers, and develop new productive forces, the endogenous growth momentum of the Chinese economy is expected to further increase this year. More new bright spots in economic growth are set to emerge with the support of numerous policies and consistent advancements in various sectors.

Echoing the proverb -- a journey of a thousand miles begins with a single step -- these accomplishments establish a foundation for upcoming success, signaling that China's economy is heading in a promising direction. Despite the challenges that lie ahead, China's economy has demonstrated that determination and confidence can overcome any obstacle, and it is actively embracing a good start in 2024.

Encouraging industrial news and hard work in multiple fields since the start of 2024 attest to the confidence in China's high-quality development. With down-to-earth efforts, the resilient Chinese economy is well capable of rising to the challenges both at home and abroad, fostering vibrant growth drivers and sustaining its role as a major engine for the global economy in the new year. 

(Web editor: Peng Yukai, Liu Ning)


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