China Consumer_Spring Festival_ Green shoots amid moderation
China Securities·2025-02-09 04:54
5 February 2025 Equity Research Report China Consumer Equities Spring Festival: Green shoots amid moderation China Tourism – solid passenger traffic; strong inbound tourism. Inter-regional passenger trips exceeded 2.3bn during the eight-day Chinese New Year (CNY) – Spring Festival holiday (compared with 2.29bn during the seven-day CNY holiday last year) (as per Xinhua). According to the Ministry of Culture and Tourism, the eight-day Spring Festival holiday registered 501m domestic trips (5.9% y-o-y) and RMB ...