CICC: "May 1st" consumption recovery accelerates, optimistic about continuing release of consumer demand

According to the research report of Zhongjin Company, the Ministry of Commerce stated that during the "May 1st" holiday, the sales of key retail and catering enterprises nationwide increased by 6.3% year-on-year, with the growth rate accelerating compared to the National Day and Spring Festival in 2024 and 2025 respectively. Consumptions data released by various provinces, cities, and online platforms show that long-distance travel and inbound tourism have performed well, while the exchange of old for new products is popular, and experiential consumption such as concerts and trendy toys also showed good performance. Looking ahead, it is believed that the consumption-boosting policies will gradually take effect, leading to a sustained release of consumer demand throughout the year.