China reported a surge in both payment transactions and value from overseas visitors during the five-day May Day holiday that concluded on Tuesday, official data showed Wednesday.

According to the People's Bank of China, the country's central bank, the number of such transactions and the value involved during the period grew 45.15% and 36.96%, respectively, compared to the same period last year.

The growth in payments by individuals from overseas aligned with a big increase in visa-free arrivals. Official data showed that trips by foreign nationals to and from China rose to 1.26 million during the holiday, a 12.5% increase from a year earlier. Among those entering China, 436,000 came visa-free, up 14.7%.

The data from the central bank also showed that during the five-day holiday period, China's card payment giant China UnionPay and online payment-clearing house NetsUnion Clearing Corporation processed nearly 28.94 billion transactions with a total value of 7.85 trillion yuan ($1.14 trillion), which grew 23.45% and 2.74%, respectively, from the same period last year.