Travel and consumption in China rebounded over the three-day weekend, the first national holiday since the government relaxed travel restrictions after controlling most new coronavirus outbreaks.
Residents made 102 million domestic trips over the three-day ‘Tomb-Sweeping’ holiday, up 145% from the same period last year when the country was still reeling from the initial pandemic outbreak. Travel was 95% of the level in 2019, before the pandemic, according to a government statement.
Despite the recovery, spending was still well down, with tourism revenue reaching 27.2 billion yuan ($4.2 billion), or about 57% of the level in 2019. The data underscores just how reticent consumers are to spend, with private spending still lagging in the economy even as the industrial, export and real-estate sectors rebound.
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