Nighttime economy fuels Beijing's consumption during May Day holiday

BEIJING - Nighttime consumption in Beijing during the four-day May Day holiday has been on the rise, as the capital continues to drive economic growth with what it calls "nighttime economy."

The nighttime economy refers to business activities between 6 pm and 6 am in the service sector. It appeared in Beijing's latest government work report, which urges malls, supermarkets and convenience stores to stay open later at night.

Revenue in 60 key retailers and restaurants monitored by the municipal commerce bureau reached 3.22 billion yuan ($478 million) during the holiday, up by 6.5 percent compared with the same period last year, according to the bureau.

Restaurant consumption in mall-clustered Wangfujing, Sanlitun and Qingnianlu surged 51.3 percent during the nighttime hours compared with the same period last year.

A total of 24 shopping centers have registered nearly 40 percent more visitors during the holiday, the statistics showed.

Beijing sees a big market for late-night spending. Data released by Chinese ride-sharing giant Didi Chuxing in 2018 showed Beijing had the largest number of travelers between 10 pm and 6 am.