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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 Access to Group 】 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.

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My mistakes with the stock market ✌️【Risk】✌️ Precise stock market trend analysis with expert insights into global markets, including stock indices, metals, and energy sectors. Leverage our data-driven predictions to maximize your returns. 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.

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My mistakes with the stock market ✌️【Risk】✌️ Real-time stock and futures data, backed by expert stock market trend predictions, to help you make timely and profitable investment decisions. The ministry did not provide details of the numbers of trips or spending by day. However, 【 - Free Access to Group 】 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.

My mistakes with the stock market ✌️【Risk】✌️ AI-driven stock trend forecasting with free access to real-time market data, offering personalized investment advice and expert predictions. 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).

My mistakes with the stock market ✌️【Risk】✌️ Real-time stock market data, precise predictions, and investment strategies to help you optimize your portfolio and achieve financial success. Travel outside mainland China, including to Hong Kong and Macao, was also below pre-pandemic levels, if the official figures are averaged out.

My mistakes with the stock market ✌️【Risk】✌️ Free expert predictions on stock trends and real-time data to help you make informed decisions and grow your wealth steadily. 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.

My mistakes with the stock market ✌️【Risk】✌️ Accurate real-time market data and expert stock predictions for profitable investment opportunities in global markets. While the consumption of big-ticket items like property remained sluggish, purchases of inexpensive items boomed.

My mistakes with the stock market ✌️【Risk】✌️ Expert stock predictions and free stock selection services to help you achieve optimal returns and long-term growth. 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.

My mistakes with the stock market ✌️【Risk】✌️ Receive professional stock analysis with real-time updates on market movements. Make quick investment decisions and capitalize on profitable opportunities. The number of people who went to the cinema, a total of 163 million, also hit a record high, it said.

My mistakes with the stock market ✌️【Risk】✌️ Free access to stock market forums, expert advice, and real-time data to help you stay informed and grow your investments. 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.

My mistakes with the stock market ✌️【Risk】✌️ Get precise stock market predictions and free access to real-time market data for efficient decision-making and portfolio growth. 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.”

My mistakes with the stock market ✌️【Risk】✌️ Expert analysis of global stock trends, futures data, and real-time stock market quotes to help you plan your next investment move. 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.

My mistakes with the stock market ✌️【Risk】✌️ Free real-time global stock trend updates to help you capture market movements and make better investment decisions. 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 Access to Group 】. 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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