China's Spring Festival Travel and Spending Set New Records

- The holiday box office exceeded 6 billion yuan (approximately $868.2 million), with the "film+" model being promoted to integrate movie-going with other forms of consumption. The domestic racing-comedy "Pegasus 3" was a top performer, grossing over 1.6 billion yuan. - There was a notable trend of "tech New Year goods" with sales of AI-integrated products, smart wearables, and drones increasing by about 30% in the Huaqiangbei electronics hub. Sales of wearable gadgets on major online platforms surged 19.7% year-over-year in the first three days of the holiday, with sales of smart glasses more than doubling. - Tech giants spurred consumption through digital subsidy campaigns, with Alibaba's Qwen App launching a 3-billion-yuan "Spring Festival Treat Plan" to encourage the use of AI for placing orders across its e-commerce, payment, and local services platforms. - A government-backed trade-in program for consumer goods, including digital devices and home appliances, unlocked significant spending, generating nearly 59 billion yuan in sales in January alone. - The "silver economy" showed significant growth, with a 1.6-fold increase in travelers aged 60 and above compared to the 2025 holiday, many flying for the first time to reunite with family. - International visitor numbers were boosted by expanded visa-free policies, which now allow citizens from up to 50 countries to travel to China without a visa. Domestic flight bookings by foreign passport holders increased by 20% year-over-year. - The 40-day Spring Festival travel period, known as "Chunyun," was expected to see a record 9.5 billion cross-regional passenger trips. - In the initial days of the holiday, average daily sales at major retail and catering businesses saw an 8.6% increase compared to the same period last year.