China’s box office broke records during the Lunar New Year holiday, with a total of 9.5 billion yuan ($1.3 billion) in ticket sales over an eight-day period. Domestic spending also increased, with travel spending reaching 677 billion yuan and domestic trips rising by 5.9%. The surge in tourism spending is seen as a positive sign for policymakers aiming to boost domestic consumption.
Moviegoers flocked to cinemas to watch films like “Nezha 2”, contributing to the record-breaking box office figure. In contrast, air travel data showed a mixed trend, with international and regional routes seeing an increase in passenger flights by 21.4%. This marks a departure from a private sector survey that pointed to slower growth.
The strong showing during Lunar New Year has been welcomed by analysts, who see it as a promising start to the year. They note that consumers have favored services like culture consumption, with boosted sales of durables and cross-border travel gaining momentum. With China’s prolonged property crisis still affecting investment and confidence, policymakers will now focus on domestic policy developments.
Key statistics:
* Box office: 9.5 billion yuan ($1.3 billion)
* Domestic spending: 677 billion yuan
* Domestic trips: 501 million (up 5.9%)
* Average spending per trip: 1,351 yuan
Source: https://www.reuters.com/world/china/china-lunar-new-year-holiday-box-office-takings-hit-record-high-13-bln-2025-02-05