China’s National Day Holiday Consumption Steady in First Three Days

The modest gains in foot traffic and sales suggest holiday spending is holding up rather than accelerating, with the trade-in program doing much of the visible work: appliances dwarf vehicles in units moved, a reminder that big-ticket auto demand remains the harder part of the consumer story. For RWA and tokenization watchers, the relevant thread is the policy machinery behind these numbers — subsidized trade-ins are a demand-management tool, and their durability past the holiday window is the open question. Whether the program's pull fades once the holiday ends is worth tracking.