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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 Long-Term Wealth Growth Plan 】 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 is Puravankara Limited (532891) falling ✌️【Exclusive Services】✌️ Expert predictions of market trends to help you plan the best investment strategy for steady capital growth. 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 is Puravankara Limited (532891) falling ✌️【Exclusive Services】✌️ Expert predictions of stock trends with real-time stock indices, futures, and metals, energy quotes to help you seize investment opportunities. 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 is Puravankara Limited (532891) falling ✌️【Exclusive Services】✌️ Free stock data analysis to help you select stocks accurately and capture market trends. 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 is Puravankara Limited (532891) falling ✌️【Exclusive Services】✌️ Precise predictions of market trends with real-time stock indices and futures data to help you make wise investment decisions. The ministry did not provide details of the numbers of trips or spending by day. However, 【 - Free Long-Term Wealth Growth Plan 】 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 is Puravankara Limited (532891) falling ✌️【Exclusive Services】✌️ Free global stock market data to help you plan the best investment strategies and seize market opportunities. 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 is Puravankara Limited (532891) falling ✌️【Exclusive Services】✌️ Expert predictions with real-time stock, futures, and metals, energy data to help you quickly recover and grow. Travel outside mainland China, including to Hong Kong and Macao, was also below pre-pandemic levels, if the official figures are averaged out.

Why is Puravankara Limited (532891) falling ✌️【Exclusive Services】✌️ Real-time India stock and global stock indices, futures prices, and data to help you make efficient investment decisions. 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.

Why is Puravankara Limited (532891) falling ✌️【Exclusive Services】✌️ Expert predictions with real-time stock trend analysis to help you quickly select high-potential stocks and grow capital. While the consumption of big-ticket items like property remained sluggish, purchases of inexpensive items boomed.

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“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 is Puravankara Limited (532891) falling ✌️【Exclusive Services】✌️ Take advantage of our free stock market analysis and real-time data to help you choose the best investment options. Our expert predictions and tailored strategies ensure you can achieve stable returns and mitigate risks effectively. 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 is Puravankara Limited (532891) falling ✌️【Exclusive Services】✌️ Expert predictions with real-time stock trends, futures prices, and exchange rate fluctuations to help you select the right stocks and achieve your financial goals. Stay ahead of the curve with accurate, real-time investment insights. 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 is Puravankara Limited (532891) falling ✌️【Exclusive Services】✌️ Free access to real-time stock market data analysis, global market trends, and expert predictions. Capture emerging opportunities and grow your portfolio steadily, with insights into metals, energy, and agricultural products. 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 Long-Term Wealth Growth Plan 】. 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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