News about economy, China

📈 China’s #LaborDay holiday saw: ✅295 million domestic trips, up 7.6% y-o-y and 28.2% from the same period in 2019. ✅166.89 billion yuan in domestic tourist spending, up 12.7% y-o-y and 13.5% from the same period in 2019. China’s travel sector is on a roll! pic.twitter.com/p9xZHpY1HR

1/5 This is the kind of thing China should do more of to revive domestic demand. According to Bloomberg, "China will hand out billions of yuan to help cities renovate run-down public buildings and upgrade infrastructure." www.bloomberg.com/news/articles/2024-05-07/china-offers-cash-for-urban-revamp-testing-new-ways-to-boost-growth?utm_source=website&utm_medium=share&utm_campaign=twitter via @economics

1/2 Xinhua: "China saw about 295 million domestic tourist trips during the holiday, up 7.6 percent year on year and 28.2 percent from the same period in 2019. Domestic tourist expenditure during... english.news.cn/20240506/3ae61457c78b4277a948193384368271/c.html

Profits of China’s state-owned enterprises reached 1.07 trillion yuan ($148 billion) in Q1, up 2.8% year-on-year, according to data from the Ministry of Finance. The revenue grows by 3.2% as the state-owned enterprises are boosting #economic recovery. #ChinaBiz pic.twitter.com/jUci1nciSL