If the first two days of China's annual Golden Week holidays are anything to go by, consumer confidence in the world's second-largest economy is strong.
Golden Week, a seven-day holiday starting on October 1 - China's National Day - is a key period for travel, shopping and dining out in the mainland. The holiday period is used as a gauge of consumer sentiment in the country.
"Golden Week has been quite golden so far. Tourism data came in strong for the first two days," said Ting Lu, China economist at Bank of America Merrill Lynch.
The number of visitors to the nation's top 125 tourist attractions hit 8.4 million during the first two days of the holiday period, up 18.8 percent compared with the same period last year. Total tourism revenue from these attractions surged 26.6 percent on-year to 437 million yuan ($71 million).
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"The growth in the number of tourists is more impressive if we consider the fact that the capacities of those tourist attractions are limited," Lu added.
Lu said the strong data reflects a combination of stable employment and solid wage growth, and is in line with the government's efforts to rebalance from an investment-driven to a consumption-based economy.
"Individual trips could be partially bolstered by the wealth effect, as home prices have been soaring so far this year," he said.
In September, the average price of new homes in 100 cities rose 9.5 percent on-year to 10,554 yuan ($1,724) per square meter, according to the China Index Academy.
Government policies have also encouraged increased domestic travel, with highway tolls waived during the holiday period for vehicles with up to seven seats.