Chinese consumers spent about 821 billion yuan (US$127 billion) on shopping and dining during this year’s Spring Festival holiday, an increase from 2020 but still below the amount in 2019, which was over 1 trillion yuan, according to government data.
China has been battling Covid-19 outbreaks in a number of provinces this year. As a result, the annual Lunar New Year mass migration home and consumption were disrupted as health authorities required people from high- and medium-risk areas to spend the holiday where they worked or studied, and avoid large gatherings or unnecessary travel.
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