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China’s return to entertainment a signal of next stage of economic recovery

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Sales of consumer goods, a proxy for consumption in China, rose across the board at the end of the third quarter, led by vehicle sales

Child models prepare backstage before a rehearsal for the MIBAI Spring/Summer 2021 collection show by Qingmei Lou, during China Fashion Week in Beijing, China, on October 26 2020. Picture: REUTERS/TINGSHU WANG

To many, they indicate a late northern hemisphere-summer recovery in Chinese household spending is broadening and propelling the next stage of the economic recovery. Still, Chinese spending on services lagged that on goods, and sectors such as hospitality and catering sector fared particularly badly due to social distancing rules, restrictions on operating hours, and caps on capacity.

On October 1, the first day of the “Golden Week” holiday, China's box office raked in 745-million yuan , the highest single-day sales in 2020 and the second-best to date for the holiday. In Beijing, local rock bands have been playing to enthusiastic crowds each weekend at the Temple Bar nestled in Beijing's many winding “hutong” alleyways, since the bar resumed such live gigs in September.

 

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