All government offices will be closed. Banks and big stores will be closed 2 or 3days max if at all. All transportation will run as usual or even more. Travel will be expensive and hell. It really depends on where you are. If your in a top tier city that has a large population of migrant workers like guangdong, beijing or most places of the east coast it will have a large effect. Things will be like a ghost town, stores and restaurants will be closed for weeks as everyone went home. If you are in a smaller town or a city inland where the migrant workers originate from, it will be extremely busy as everyone is now back but most things will be closed for a very short period if at all.

Here in town the big supermarkets are open, restaurants likewise. Our local farmers market has scaled down, some vendors gone, some still there. It's probably not needed, but advisable to stock up on essentials like water and toiletpaper. 

Most of business will be closed. But you always have open stores, restaurants where you could go. 

Can see the road with less vehicles. 

I second the reply on stocking up on essentials. Not all at once but a few trips to different

stores around your city. While you are outside your home take a look at who is closing up

and who is remaining open.

Enjoy the coming holiday and let us know how your experience went..

Where you at? Beijing is a ghost town but there are still many services open, even Slow Boat Taproom will remain open for every single day of the holiday.