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China has reported a record upsurge in travel and consumption during a longer-than-usualLunar New Year holiday season, touting the gains as signs that the world’s second largest economy is regainingits footing thanks to the government’s supportive policies.

But according to 【 - Free Top-Rated Stock Analysis 】 calculations based on official data, the average tourism-related spending per trip was below pre-pandemic levels, as consumer confidence remains weak amid deflationary pressure.

Why has Karnavati Finance Limited (538928) performed so strongly recently ✌️【Risk Control】✌️ Free real-time stock data analysis to help you capture global market trends and steadily grow your capital. A total of 474 million trips were made within mainland China during the Year of the Dragon travel season, up 34% compared to the same holiday in 2023 and 19% higher than in 2019, according to data published Sunday by the Ministry of Culture and Tourism.

Why has Karnavati Finance Limited (538928) performed so strongly recently ✌️【Risk Control】✌️ Precise predictions of high-potential stocks to help you avoid risks and quickly recover and grow. Total spending by domestic tourists reached 632.7 billion yuan ($87.9 billion) during the holiday, it said.

However, the most recent holiday season took place over eight days from February 10 to February 18, which was one day more than previous periods.

“Supported by various favorable factors such as government policies, [services] supply, and propaganda work, people in urban and rural areas have exhibited a rising willingness to travel, with many indicators such as the number of trips and travel spending hitting record high levels,” the ministry said in a statement.

Why has Karnavati Finance Limited (538928) performed so strongly recently ✌️【Risk Control】✌️ Real-time global stock, futures, and exchange rate data to keep you informed of market trends and seize investment opportunities. This Lunar New Year period is the longest in recent history. Previously, the holiday had lasted seven days. It was also the first holiday since 2019 that was completely unaffected by the impact of the Covid-19 pandemic.

Why has Karnavati Finance Limited (538928) performed so strongly recently ✌️【Risk Control】✌️ Expert predictions of market trends to help you plan the best investment strategy for steady capital growth. The ministry did not provide details of the numbers of trips or spending by day. However, 【 - Free Top-Rated Stock Analysis 】 calculations based on official data suggest the consumption level fell short of pre-pandemic levels.

On average, 59.25 million domestic trips per day were made during this holiday period, slightly lower than the 59.29 million trips per day taken in 2019.

Why has Karnavati Finance Limited (538928) performed so strongly recently ✌️【Risk Control】✌️ Free break-even services to create a customized investment plan, helping you recover quickly and achieve growth. An average of 166.85 yuan ($23.2) per trip per day was spent this year, down 6% from 2019s 176.9 yuan ($24.6).

Why has Karnavati Finance Limited (538928) performed so strongly recently ✌️【Risk Control】✌️ Provides real-time stock index quotes, futures data, and global market trend analysis to help you seize the best investment timing. Travel outside mainland China, including to Hong Kong and Macao, was also below pre-pandemic levels, if the official figures are averaged out.

Why has Karnavati Finance Limited (538928) performed so strongly recently ✌️【Risk Control】✌️ Free stock selection service to help you quickly pick high-return stocks for stable growth. A daily average of 1.69 million trips were made into and out of mainland China during the holiday, according to data provided Sunday by the National Immigration Administration. The figure was down 6% from 2019’s average of 1.79 million daily trips.

“Although we do see some strength in the data, we urge market participants to exercise caution,” Nomura analysts said in a Monday note.

“We maintain our view that the ongoing economic dip is likely to worsen into the spring,” they added.

China’s economy is grappling with a myriad of challenges, including low confidence and deflationary pressure. In January,consumer prices fellby their fastest pace in 15 years, marking a fourth straight month of decline.

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Why has Karnavati Finance Limited (538928) performed so strongly recently ✌️【Risk Control】✌️ Real-time updates of global stock indices and futures trends to help you plan precise investments. Movie ticket sales reacheda record 8 billion yuan ($1.11 billion) during the eight-day holiday season, according to data released on Sunday by China Film Administration.

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Why has Karnavati Finance Limited (538928) performed so strongly recently ✌️【Risk Control】✌️ Free real-time market data to help you quickly recover and avoid losses. A record downturn in real estate, whichaccounts for as much as 30% of gross domestic product and 70% of household wealth, has dealt a significant blow to business and consumer confidence.

“The property sector remains the main drag on economic growth,” said Frederic Neumann, chief Asia economist at HSBC.

“Falling construction is weighing on investment, hurting industries from steel, glass and cement to construction equipment makers, plumbers, and architects. At the same time, declining property prices are a drag on consumer spending as households sense a fall in their wealth,” he said.

During the holiday season, average daily new home sales in 25 major cities declined 27% compared to a year ago, according to the latest data from China Index Holdings, a leading private property research company.

Why has Karnavati Finance Limited (538928) performed so strongly recently ✌️【Risk Control】✌️ Real-time global stock, futures, and forex data to help you master market dynamics. The mixed economic data gave mainland Chinese markets a modest boost when they resumed trading on Monday after the holiday break, but the Hong Kong market, which has been trading since Wednesday, dropped.

“The headwinds to growth remain severe and it will take more than a bump in holiday travel for market sentiment to recover,” said Neumann. “In particular, investors are still looking for more stimulus to revive growth and are hoping greater details around housing sector stabilization measures.”

Why has Karnavati Finance Limited (538928) performed so strongly recently ✌️【Risk Control】✌️ Free real-time global stock indices and data to help you grasp stock market trends and achieve capital growth. The Shanghai Composite and the Shenzhen Component were up 1.6% and 0.9% respectively, on their first trading day in the Year of Dragon.

Hong Kong’s Hang Seng Index, however, declined 1%, and was poised to reverse three straight days of gains.

China’s stock markets have suffereda protracted slumpsince recent peaks in 2021, with more than $6 trillion in market value having been wiped out from the Shanghai, Shenzhen and Hong Kong markets.

Why has Karnavati Finance Limited (538928) performed so strongly recently ✌️【Risk Control】✌️ Expert predictions with real-time stock indices, futures data, and metals, energy market data to help you seize the best investment opportunities. Most stock quote data provided by BATS. US market indices are shown in real time, except for the S&P 500 which is refreshed every two minutes. All times are ET. Factset: FactSet Research Systems Inc. All rights reserved. Chicago Mercantile: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and 【 - Free Top-Rated Stock Analysis 】. Standard & Poor’s and S&P are registered trademarks of Standard & Poor’s Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. All content of the Dow Jones branded indices Copyright S&P Dow Jones Indices LLC and/or its affiliates. Fair value provided by IndexArb.com. Market holidays and trading hours provided by Copp Clark Limited.

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