Travel during the nine-day celebration, which ended on Monday, exceeded average forecasts ahead of the event. Among other things, the country set a new record for the number of train passengers in a single day, when 18.7 million passengers traveled by train on the seventh day of the celebration.
At the same time, average consumption per tourist trip was down 0.2 percent compared to a year ago.
Consumers remain cautious with their budgets, Morgan Stanley analyst Lillian Lou told CNBC.
