China to cultivate new growth drivers to boost consumption: authorities

China will foster new growth drivers and take some other measures to boost consumption in 2025, said a senior official from the National Development and Reform Commission (NDRC) -- China's top economic planner -- on Friday.

Speaking at a press conference in Beijing, Xiao Weiming, deputy secretary-general of the NDRC, said that more efforts will be made to enrich the supply of consumer products and support enterprises of various ownership forms in participating in trade-in programs.

In a significant push to stimulate consumer spending, China has since early last year rolled out an expansive trade-in policy across multiple sectors. Covering a wide range from automobiles and home appliances to real estate, the initiative aims to encourage the replacement of outdated goods with newer and more advanced options. "Efforts will be made to cultivate new growth drivers of consumption. We will continue to increase the number of ice and snow facilities, and enhance public services in this area to stimulate consumption. Focusing on the diverse needs of the elderly, efforts will be made to develop emerging industries and expand services related to elderly care, such as meal assistance program, in-home care, community service, and institutional care," said the senior official.

"Efforts will also be made to help more seniors access new offerings, including smart assistive devices, senior-friendly special trains, and elderly study tours, aiming to enrich their life," he said.

According to Xiao, steps will be taken to improve the consumption environment, including enhancing the trade and cold chain logistics systems to lower logistics costs and fully implementing the paid annual leave system to stimulate holiday consumption.

Moreover, China will continue to advance the development of the credit system to create a trustworthy consumption environment, according to Xiao.

China to cultivate new growth drivers to boost consumption: authorities

Chengdu, the capital of southwest China's Sichuan Province, is experiencing a significant influx of domestic and international tourists during the five-day May Day holiday, which runs from May 1 to May 5.

To enhance visitors' experiences, local authorities have organized a series of activities, including traditional Chinese cultural performances, intangible cultural heritage markets, and virtual reality (VR) experiences. These initiatives allow tourists to appreciate the city’s historical richness and urban vitality, as well as to sample local delicacies in popular spots like the Wenshu Monastery Neighborhood.

"I’ve always wanted to visit Wenshu Monastery Neighborhood in Chengdu. Here, I watched the Sichuan opera face-changing performance and tried local snacks like San Da Pao (sweet glutinous rice balls) and Liang Fen (jelly noodles)," said Wu Ping, a domestic tourist.

Throughout the holiday, traditional Chinese cultural performances and Hanfu parade have also taken place in the neighborhood, attracting large crowds of visitors.

"There are about 30 of us today, all Hanfu enthusiasts. We can watch dance performances and join the parade," said Zhou Bin, a tourist dressed in traditional Chinese clothing.

For some international visitors, such as Assely from Kazakhstan, Chengdu's history is a major draw.

"It is more historical interest. Because I know it is going very back. It's very good interesting history in China," she said.

The century-old Citang Street is also bustling with activities during the holiday, featuring a VR experience that integrates giant panda culture with traditional Chinese Tai Chi, an ancient internal martial art. This program has become a highlight of the festivities.

"We're coming here to see China. This is our first time here. We came to Chengdu like an hour ago. We can see more technology, more Western tourists," said Nikolas Barwicki, a tourist from Poland.

Chengdu sees surge of tourists during May Day holiday