sharon sanders
Editor-in-Chief & President
China’s Li Pledges Consumer Support as Holiday Spending Plunges
Bloomberg News
September 12, 2022 at 9:31 PM EDT
China’s Premier Li Keqiang called for more policies to drive up consumption in the economy as the latest figures show a further plunge in travel and spending over a three-day public holiday amid tight Covid controls.
Tourism revenue declined 22.8% to 28.7 billion yuan ($4.1 billion) over the Mid-Autumn Festival from a year ago. Compared with pre-pandemic levels in 2019, revenue was down 39.4%, worse than last year’s 21.4% drop, according to figures from the Ministry of Culture and Tourism. The number of trips fell 16.7% to 73.4 million from the same period last year.
more...
https://www.bloomberg.com/news/arti...-consumer-support-as-holiday-spending-plunges
Bloomberg News
September 12, 2022 at 9:31 PM EDT
China’s Premier Li Keqiang called for more policies to drive up consumption in the economy as the latest figures show a further plunge in travel and spending over a three-day public holiday amid tight Covid controls.
Tourism revenue declined 22.8% to 28.7 billion yuan ($4.1 billion) over the Mid-Autumn Festival from a year ago. Compared with pre-pandemic levels in 2019, revenue was down 39.4%, worse than last year’s 21.4% drop, according to figures from the Ministry of Culture and Tourism. The number of trips fell 16.7% to 73.4 million from the same period last year.
more...
https://www.bloomberg.com/news/arti...-consumer-support-as-holiday-spending-plunges