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Hangzhou's Spring Festival spending surpasses $5b

ehangzhou.gov.cn| Updated: February 8, 2025 L M S

Hangzhou recorded total consumer spending of 40.79 billion yuan ($5.6 billion) during the 14-day Spring Festival period from Jan 21 to Feb 3, a 7.8-percent year-on-year increase, according to the city's commerce bureau.

Retail sales jumped 18.4 percent to 26.68 billion yuan, while nighttime consumption reached 15.76 billion yuan, up 4.0 percent.

Subsidies for home appliances and digital products fueled demand, with sales of 3C electronics exceeding 140 million yuan in districts like Yuhang and Linping. Automobile sales surged 147.7 percent among monitored businesses, led by Tesla and Li Auto in Xiaoshan, which generated 350 million yuan, up 60.3 percent.

Traditional Hangzhou cuisine saw a surge, driven by promotional campaigns from iconic restaurants like Louwailou and Zhiweiguan. New Year's Eve dining flourished, with major restaurants fully booked months in advance. Scenic areas also witnessed high foot traffic, with West Lake eateries packed and long queues for local delicacies.

Hangzhou's vibrant holiday economy reflects its strong consumer demand and thriving business environment.