Regional Insights from China, March 2021

We welcomed the year of the Ox on February 12. 

While most of the country went on a long break, the courier sector handled about 4.8 billion parcels in a single month, showing a 73% increase compared to February 2020. This demonstrates that the pandemic has significantly influenced the purchasing habit of Chinese consumers over the past year. 

With the Spring Festival holiday, China’s February box office revenue exceeded RMB 12.26 billion, breaking the world monthly box office record. At the same time, the catering industry earned RMB 708.5 billion from January to February, up 68.9% year on year. Both statistics show clear post- COVID-19 market recovery, boosting the confidence of both foreign and local investors. 

As this year is symbolized by ‘牛气冲天’ (‘the soaring Ox’), China is very hopeful for a year of prosperity and good fortune