x

China’s market sees revival in May Day holiday

China’s transportation, tourism and consumption rebounded markedly in the May Day holiday,
and the domestic market saw adequate supplies with stable prices, maintaining general stability
and releasing huge vitality.
During the five-day vacation, the total number of train, road, waterway and air trips made
nationwide hit 121 million, about 24.3 million daily average, 17.9 percent higher than that of the
previous five days. Domestic tourism revenue garnered 47.56 billion yuan ($6.7 billion) in the
same period.
“The Ministry of Transport will further improve and better implement regular epidemic control
measures, and use every feasible means to guarantee the supply chain of international logistics in
the next phase, in a bid to facilitate economic and social development and the comprehensive
resumption of production and life of the people,” Liu Xiaoming, Vice Minister of Transport,
introduced.
“The holiday carried special significance for the tourism market,” Wang Xiaofeng, an official with
Ministry of Culture and Tourism (MCT), observed.
“The travel industry was greatly revived, as the MCT made active efforts to meet people’s need
for travel and help tourism enterprises resume work while ensuring epidemic control and reducing
congregations,” he added.
The MCT requested tourist attractions to limit their reception of tourists to as low as 30% of their
maximum visitor capacity, and manage the flow of the tourists to avoid gatherings. At the same
time, the travelers must make reservations beforehand and avoid peak time.
To meet MCT’s requirements, tourist attractions increased manpower and strengthened
management and control measures at major areas.
From May 1 to 5, a total of 115 million domestic trips were made across China, generating
revenue of 47.56 billion yuan. The figure almost accounted for 50% of that last year, promoting
the unleashing of potential in tourism-related consumption amid the continuous efforts of
epidemic control and prevention, according to Wang.
The five-day holiday witnessed a robust domestic market and a revival in consumption, which
reflected the strong resilience and vitality of China’s market.
The Ministry of Commerce (MOFCOM) said that key enterprises in retail industry showed a sign
of remarkable revival, with a daily average sale up by 32.1 percent compared to the three-day
Tomb-sweeping Day holiday in April.
Since the onset of the COVID-19 epidemic, 28 provinces and municipalities, as well as 170 cities
across the country handed out consumption coupons totaling over 19 billion yuan, and soon
stimulated consumption and boosted confidence, according to Wang Bingnan, Vice Minister of
Commerce.
“The promotion campaigns aimed at helping catering and retail industries, which were hit hard by
the pandemic, and they worked fairly well to bring customers back, playing a very important role
in stabilizing enterprises and industries,” Wang added.
“Generally speaking, the speedy recovery of the consumption market in the May Day holiday
showed the advantages of China’s ultra-large-scale market and the potential of domestic demand,”
Wang introduced.

Going forward, the MOFCOM will continue to promote the resumption of business amidst the
ongoing containment efforts, expand consumer spending, work faster to unleash domestic
demand, and provide solid support for maintaining economic development and social stability,
ensuring and improving living standards and forming a strong domestic market, Wang remarked.

Hot this week

Abia Governor Alex Otti Receives Statesman Restoration and Security Award

By Ogenyi Ogenyi, UyoAbia State Governor, Alex Otti,...

EFCC, Aviation Security Strengthen Partnership to Curb Illicit Financial Flows

By Francis WilfredThe Kano Zonal Directorate of the...

Ogwashi-Uku Denies Claims of Supreme Court Judgment in Boundary Dispute with Ibusa

By Anne AzukaOgwashi-Uku Kingdom has dismissed claims that a...

2027: APC France Mobilises Diaspora Support for Tinubu, Shettima

The France chapter of the All Progressives Congress has...

TCN Begins Maintenance at Fakun 330/132/33kV Substation, Power Supply Affected

By Jabiru HassanThe Transmission Company of Nigeria (TCN)...

Security Expert Warns of Emerging Armed Groups in Northern Nigeria

By Achadu Gabriel, KadunaA security expert has raised...

Abia Governor Alex Otti Receives Statesman Restoration and Security Award

By Ogenyi Ogenyi, UyoAbia State Governor, Alex Otti,...

Gov Otti gets Statesman Restoration and Security Award at NCCC’s National Prayer Summit

By Ogenyi Ogenyi.UyoGovernor Alex Otti has been formally honoured...

US-Based Investors Claim ₦50bn EMIS Telecom Funds Remain Trapped in FCMB

By Achadu Gabriel, KadunaSome U.S.-based investors linked to...

NBBF Presidential Aspirant Igoche Mark Pledges Unity, Development for Nigerian Basketball

Basketball promoter Igoche Mark has outlined plans to prioritise...

Oluremi Tinubu Urges Nationwide Adoption of Akwa Ibom Senior Citizens Centre Model

By Ogenyi Ogenyi, UyoNigeria’s First Lady, Senator Oluremi...

Related Articles

Popular Categories

spot_imgspot_img