News
China’s economy will usher in a dynamic year in 2024
Xinhua News Agency, Beijing, January 12 (Xinhua) Although many Western media have painted a skeptical outlook for China's economy in 2024, the unfolding reality reveals a different story. At the beginning of this year, economic vitality showed strong momentum.
The new year shows no signs of downturn, but is accompanied by booming consumption and tourism markets. Data released by the Ministry of Culture and Tourism shows that during the three-day Spring Festival holiday, the number of domestic tourists was 135 million, an increase of 155.3% over the same period in 2023.
The tourism boom is particularly evident in Harbin, the capital of China's northernmost province of Heilongjiang, which has recently attracted attention for its snowy landscape and warm hospitality. During the three-day New Year holiday this year, it received about 3.05 million tourists, a record high, and tourism revenue reached 5.91 billion yuan (about 832 million U.S. dollars).
This travel feat didn’t happen out of nowhere. Provinces such as Beijing, Hunan, and Guangdong have improved the consumer experience and stimulated consumption through measures such as issuing consumer coupons, reducing or exempting tickets, and holding themed events. These efforts are all aimed at better meeting the public's diverse and quality consumer needs.
In addition to tourism, China's manufacturing industry is also showing strong growth, and this trend is expected to continue this year.
In the past year, China's automobile industry's production and sales reached record highs, reaching 30.16 million vehicles and 30.09 million vehicles respectively, a year-on-year increase of 11.6% and 12%. The production and sales of new energy vehicles increased by 35.8% and 37.9% respectively.
There were other achievements that pointed to a good start to the year. On Tuesday, China's self-developed passenger aircraft C919 began operating on a new route connecting Beijing and Shanghai, and China's first domestically produced large-scale cruise ship "Adora Magic City" completed its commercial maiden voyage on Sunday.
China vigorously promotes industrial innovation through scientific and technological innovation, cultivates new industries, new models, new driving forces, and cultivates new productivity. The endogenous growth momentum of China's economy is expected to further strengthen this year. With the support of multiple policies and continued advancement in various fields, economic growth will surely see more new highlights.
A journey of a thousand miles begins with a single step. These achievements lay the foundation for future success and mark that China's economy is heading in a bright direction. Despite the challenges it faces, the Chinese economy has shown its determination and confidence to overcome all obstacles and is actively welcoming a good start in 2024.
Since 2024, exciting industry news and efforts in multiple fields have confirmed confidence in China's high-quality development. As long as we work hard on the ground, the resilient Chinese economy is fully capable of coping with domestic and foreign challenges, cultivating dynamic growth momentum, and continuing to serve as the main engine of the world economy in the new year.
