Hangzhou's golden week consumption hits 29.47 billion yuan

During the National Day holiday, also known as China's Golden Week, Hangzhou saw a surge in consumption, with spending reaching 29.47 billion yuan ($4.17 billion), up 28.9 percent year-on-year. Retail sales soared by 41.4 percent, totaling 16.3 billion yuan.

Automobile, home appliance, and smart home purchases were key drivers, fueled by trade-in programs. Gongshu district saw 93.5 million yuan in auto sales, while Xiaopeng Auto in Yuhang district logged 550 new orders worth 80 million yuan.

Dining-related consumption saw strong growth, totaling 25.89 billion yuan. Events like the "Eat in Hangzhou" festival attracted large crowds, boosting sales across the city.

Shopping blocks thrived, with Wulin Square and Hubin Pedestrian Street reporting significant increases in foot traffic and sales, making it the holiday week a successful period for Hangzhou's economy.