October 1st is our National Day and we will have a one-week holiday from October 1st to 7th. Along with the one-week holidays for the Labor Day ( May 1st–May 7th), we call them “Golden Holidays”. The golden-holiday policy began from 1999, when China was undergoing a long period of deflation and insufficient domestic demand. To encourage people to spend more, the government initiated the idea of an “golden-holiday economy”. During the golden holidays, people traveled and went shopping, and the government succeeded in stimulating the domestic consumption”.
Generally speaking, the policy was successful. It effectively created more demand domestically. People traveled to many natural and historical spots, even went abroad; they went to big department stores, or supermarkets. Since 1999,the economy gradually recovered from the serious recession.
At the same time, however, the side effects of the golden holidays began to emerge. The domestic transportation was heavily burdened; the roads were seriously congested; many famous historic or scenic spots couldn’t receive more visitors,thus some historical or cultural relics were seriously damaged.
It is said that a new plan is being brewed to cope with the problems that have occured. It’s possible that the golden holidays will be divided into several shorter ones, or allocated to some important traditional festivals such as Mid-Autumn Day or Dragon Boat Day, etc.
How will the golden-holiday policy be reformed? Let’s just wait and see.
And, most importantly, wish you a happy golden holiday!