Value-added tax invoice data shows: The Spring Festival holiday consumption market is booming with many highlights

This article is reprinted from Wuhai Daily

Xinhua News Agency Beijing, February 24 — (Reporter Liu Kaixiong) The reporter learned on February 24 from the State Taxation Administration that data from value-added tax invoices show that during the 2026 Spring Festival holiday, the average daily sales revenue of consumer-related industries nationwide increased by 13.7% compared to the previous year’s Spring Festival holiday. Consumer activity was vigorous, with many highlights.

Consumer products highlighted smart and green features. During the Spring Festival holiday, driven by a series of policies, consumers favored high-quality, high-tech intelligent products, including robotic vacuum cleaners and screen projection TVs, with sales revenue of household appliances increasing by 19% year-on-year. Charging and swapping facilities are becoming more complete, providing green services for residents’ travel. During the holiday, sales revenue from vehicle charging increased significantly by 163.9% year-on-year.

The cultural and tourism market was hot, with ice and snow tourism and trips to Hainan continuing to boost consumption. The extended Spring Festival holiday promoted the release of residents’ tourism demand, with tourism-related service sales revenue increasing by 39.6% year-on-year. The ice and snow economy developed rapidly, with tourism-related service sales in core regions such as Heilongjiang, Jilin, Liaoning, and Xinjiang growing a total of 62.4% year-on-year. Hainan Free Trade Port welcomed its first long holiday after the “closure,” attracting many tourists for shopping and travel. Service sales revenue at Hainan scenic spots increased by 70.9% year-on-year. Traditional culture and modern consumption deeply integrated, with rising demand for online music, videos, entertainment, and performances at cultural venues. Digital cultural services and art performance venue sales increased by 38.8% and 136.6%, respectively.

Catering consumption warmed up, and retail services made shopping more convenient for the public. During the Spring Festival holiday, the catering market was lively, with many places launching特色餐饮 activities, restaurant banquet orders booming, and catering revenue increasing by 31.2% year-on-year. Among them, regular meal services grew by 26.5%, while snack services saw a higher increase of 42.1%, highlighting regional特色风味. Department store retail sales increased by 39.3%, and online retail grew by 10.4% on a high base last year, providing convenience for shopping during the Spring Festival.

Huang Lixin, Director of the Tax Science Research Institute of the State Taxation Administration, explained that the extended holiday boosted consumer enthusiasm, the “trade-in” policy continued to be effective in driving consumption, and some cities’ pilot programs with rewarded invoices stimulated consumer activity. The average daily sales revenue of consumer-related industries nationwide during the Spring Festival holiday increased significantly compared to the previous year, demonstrating the vitality and potential of China’s consumer market. This laid a foundation and injected confidence for continuously consolidating and expanding the steady and positive economic momentum this year.