China’s economy has kicked off 2025 with a remarkable surge in consumption and tourism, signaling strong market potential and boosting confidence for the year ahead.
Harbin Becomes a Winter Wonderland
The opening of the 9th Asian Winter Games in Harbin City, located in the snowy landscapes of northeast China’s Heilongjiang Province, has turned the city into a hotspot for tourists and businesses alike.
Gao Fei, head of a flagship merchandise store at the Asian Winter Games, shared exciting news. “We have over 1,700 products on sale,” Gao told CMG. “Sales for some items have increased five to sixfold compared to previous periods, with many popular items selling out quickly.”
Surge in Tourism and Spending
Travel platforms are buzzing too. Ctrip, a leading online travel agency, reported a staggering 388% rise in Harbin-related tourism packages during the Games. Inbound travel orders to Harbin grew by 157%, with more visitors arriving from countries like Russia, the United States, Hungary, South Korea, and Thailand.
The consumption and travel boom isn’t just in Harbin. All across China, people are embracing the new year with enthusiasm.
Spring Festival Boosts Economy
China’s Consumer Price Index (CPI), a key indicator of inflation, rose 0.5% year-on-year in January, according to the National Bureau of Statistics (NBS). Meanwhile, the Producer Price Index (PPI), which measures costs for producers, dipped slightly by 0.2% month-on-month.
NBS chief statistician Dong Lijuan explained that the CPI growth was largely due to the Spring Festival holiday. “The year-on-year increase in CPI was mainly driven by higher prices in services and food due to the Spring Festival, along with a rebound in gasoline prices,” Dong said. The slight decline in PPI was linked to seasonal factors, as many industries scale down production during the holiday.
The Spring Festival holiday, celebrated from January 28 to February 4 in 2025, brought people together and boosted spending. According to the Ministry of Culture and Tourism, 501 million domestic trips were made during the eight-day holiday, marking a 5.9% increase from last year. Domestic spending reached a whopping 677 billion yuan (approximately $93 billion), up 7% from 2024.
Entertainment and Culture Thrive
Entertainment industries thrived as well. China’s box office revenue during the Spring Festival holiday reached 8.02 billion yuan by February 3 and surpassed 10 billion yuan with real-time presales. This set a new record for the same period in the country’s film history, according to the China Film Administration.
Foreign Trade and Global Reach
China’s foreign trade is off to a strong start too. Over 30 textile companies from Zhejiang Province showcased their products at Heimtextil 2025, a major international event for home textiles and design. The number of Chinese exhibitors increased by 15% to 1,040, highlighting the country’s growing presence in global markets.
Cross-Border E-Commerce Booms
Cross-border e-commerce is booming. The Yiwu International Trade City, located at the Horgos International Border Cooperation Center on the China-Kazakhstan border, saw its international livestreaming fans exceed 5 million at the start of the year.
China-Europe Rail Links Strengthen
Rail links between China and Europe are strengthening. This Spring Festival marked the 11th consecutive “nonstop Spring Festival” for the China-Europe freight trains departing from Zhejiang Province. In January 2025 alone, the freight trains made 306 trips, transporting 25,536 twenty-foot equivalent units (TEUs), a year-on-year increase of 6.6%, according to Chen Songdi, marketing manager at the Hangzhou Railway Logistics Center under China Railway Shanghai Group.
Optimism for Continued Growth
The vibrant start to 2025 showcases China’s economic resilience and potential. With supportive policies and a wave of market momentum, the country’s growth is expected to continue throughout the year.
