During the National Day holiday, China's service consumption was robust, with the average daily sales revenue of related industries increasing by 19.5% year-on-year, according to the latest value-added tax invoice data.

Among these, tourism and entertainment service sales revenue rose 23.6% year-on-year; catering service revenue grew 9%; cultural and artistic service revenue increased 20.9%; and sports service revenue jumped 29.4%.

Consumption is the primary driver of economic growth and the "ballast stone" for China's stable economic operation. This year, the Mid-Autumn and National Day holidays were combined with three days of leave to create a 13-day super golden week, allowing consumer demand to be released in a concentrated manner. At the same time, a series of beneficial policies such as trade-ins for consumer goods and interest subsidies on consumer loans were implemented quickly, combined with local specialty consumption subsidies, fully releasing policy dividends and continuously bursting with vitality in the holiday market.

Even more notably, during the National Day culture and tourism consumption month, various regions held over 20,000 cultural and tourism activities and distributed more than 310 million yuan in consumption vouchers and other consumption subsidies. With multiple measures taken together, service consumption in catering, travel, tourist attractions, and accommodation has strong momentum, becoming the main engine driving the holiday economy.

Invoices are the most authentic "digital traces" of consumption behavior and serve as the most convincing "barometer" for observing consumption vitality. Since the beginning of this year, China's consumer market has maintained a trend of renewal and improvement, with market scale steadily expanding and development quality continuously improving. The latest value-added tax invoice data shows that during the National Day holiday, national service consumption was robust, with average daily sales revenue in related industries increasing by 19.5% year-on-year. Particularly eye-catching is that sales revenue for household appliances and audio-visual equipment increased by 40.1% year-on-year; communication equipment such as mobile phones and smart bands rose 119.8%; and retail sales of kitchenware and sanitary ware grew 52.3%. Each invoice records not only the holiday consumption heat but also the long-term trend of China's consumer market transformation and upgrading.

Policy coordination, scenario innovation, and dual efforts from both supply and demand sides have activated the "spring water" of the consumer market. China has a population of over 1.4 billion, the world's most complete industrial system, and a per capita GDP exceeding 10,000 US dollars, making it the world's largest and most potential consumer market. On the other hand, with the widespread application of new-generation information technologies such as cloud computing, big data, the Internet of Things, and mobile internet, new consumption scenarios, formats, and models are continuously emerging, further meeting people's high-quality and diversified consumption needs. It is certain that as residents' income levels continue to rise and service sector supply continues to optimize, the huge consumption potential will be further released, accumulating stronger endogenous momentum for China's high-quality economic development.

"The Chinese economy is a vast ocean, not a small pond." Development is the absolute principle, and high-quality development is the primary task of building a modern socialist country in all respects. Since the beginning of this year, with the support of consumption, China's economy has continued to develop toward renewal, improvement, and positivity, laying a solid foundation for completing the annual targets and tasks in the opening year of the 15th Five-Year Plan. Of course, the value-added tax invoice data during the National Day holiday also once again shows that we must continue to focus on consumers' new demands, continuously optimize supply, and improve safeguards, so that the new engine of service consumption can run more steadily and powerfully. By leading new supply with new demand and creating new demand with new supply, making the "main engine" of consumption even stronger, China's high-quality economic development has broad prospects and a promising future.