{"id":24732,"date":"2020-05-14T17:19:28","date_gmt":"2020-05-15T00:19:28","guid":{"rendered":"https:\/\/lapost.us\/?p=24732"},"modified":"2020-05-14T17:19:28","modified_gmt":"2020-05-15T00:19:28","slug":"chinas-market-sees-revival-in-may-day-holiday","status":"publish","type":"post","link":"https:\/\/lapost.us\/?p=24732","title":{"rendered":"China\u2019s market sees revival in May Day holiday"},"content":{"rendered":"<p>By Kong Dechen, People\u2019s Daily<\/p>\n<p><a href=\"https:\/\/lapost.us\/wp-content\/uploads\/2020\/05\/20200514-China-market-sees-revival-in-May-Day.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-24733\" src=\"https:\/\/lapost.us\/wp-content\/uploads\/2020\/05\/20200514-China-market-sees-revival-in-May-Day.jpg\" alt=\"\" width=\"612\" height=\"408\" srcset=\"https:\/\/lapost.us\/wp-content\/uploads\/2020\/05\/20200514-China-market-sees-revival-in-May-Day.jpg 612w, https:\/\/lapost.us\/wp-content\/uploads\/2020\/05\/20200514-China-market-sees-revival-in-May-Day-300x200.jpg 300w, https:\/\/lapost.us\/wp-content\/uploads\/2020\/05\/20200514-China-market-sees-revival-in-May-Day-520x347.jpg 520w\" sizes=\"auto, (max-width: 612px) 100vw, 612px\" \/><\/a><\/p>\n<p><em>Yu Garden, a classical garden, one of the must-see attractions in Huangpu District, Shanghai sees a resurgence of tourists on May 2. (Photo by Zhou Dongchao, People\u2019s Daily Online)<\/em><\/p>\n<p>China\u2019s transportation, tourism and consumption rebounded markedly in the May Day holiday, and the domestic market saw adequate supplies with stable prices, maintaining general stability and releasing huge vitality.<\/p>\n<p>&nbsp;<\/p>\n<p>During the five-day vacation, the total number of train, road, waterway and air trips made nationwide hit 121 million, about 24.3 million daily average, 17.9 percent higher than that of the previous five days. Domestic tourism revenue garnered 47.56 billion yuan ($6.7 billion) in the same period.<\/p>\n<p>&nbsp;<\/p>\n<p>\u201cThe Ministry of Transport will further improve and better implement regular epidemic control measures, and use every feasible means to guarantee the supply chain of international logistics in the next phase, in a bid to facilitate economic and social development and the comprehensive resumption of production and life of the people,\u201d Liu Xiaoming, Vice Minister of Transport, introduced.<\/p>\n<p>&nbsp;<\/p>\n<p>\u201cThe holiday carried special significance for the tourism market,\u201d Wang Xiaofeng, an official with Ministry of Culture and Tourism (MCT), observed.<\/p>\n<p>&nbsp;<\/p>\n<p>\u201cThe travel industry was greatly revived, as the MCT made active efforts to meet people\u2019s need for travel and help tourism enterprises resume work while ensuring epidemic control and reducing congregations,\u201d he added.<\/p>\n<p>&nbsp;<\/p>\n<p>The MCT requested tourist attractions to limit their reception of tourists to as low as 30% of their maximum visitor capacity, and manage the flow of the tourists to avoid gatherings. At the same time, the travelers must make reservations beforehand and avoid peak time.<\/p>\n<p>&nbsp;<\/p>\n<p>To meet MCT\u2019s requirements, tourist attractions increased manpower and strengthened management and control measures at major areas.<\/p>\n<p>&nbsp;<\/p>\n<p>From May 1 to 5, a total of\u00a0115 million\u00a0domestic trips were made across China, generating revenue of 47.56 billion yuan. The figure almost accounted for 50% of that last year, promoting the unleashing of potential in tourism-related consumption amid the continuous efforts of epidemic control and prevention, according to Wang.<\/p>\n<p>&nbsp;<\/p>\n<p>The five-day holiday witnessed a robust domestic market and a revival in consumption, which reflected the strong resilience and vitality of China\u2019s market.<\/p>\n<p>&nbsp;<\/p>\n<p>The Ministry of Commerce (MOFCOM) said that key enterprises in retail industry showed a sign of remarkable revival, with a daily average sale up by 32.1 percent compared to the three-day Tomb-sweeping Day holiday in April.<\/p>\n<p>&nbsp;<\/p>\n<p>Since the onset of the COVID-19 epidemic, 28 provinces and municipalities, as well as 170 cities across the country handed out consumption coupons totaling over 19 billion yuan, and soon stimulated consumption and boosted confidence, according to Wang Bingnan, Vice Minister of Commerce.<\/p>\n<p>&nbsp;<\/p>\n<p>\u201cThe promotion campaigns aimed at helping catering and retail industries, which were hit hard by the pandemic, and they worked fairly well to bring customers back, playing a very important role in stabilizing enterprises and industries,\u201d Wang added.<\/p>\n<p>&nbsp;<\/p>\n<p>\u201cGenerally speaking, the speedy recovery of the consumption market in the May Day holiday showed the advantages of China\u2019s ultra-large-scale market and the potential of domestic demand,\u201d Wang introduced.<\/p>\n<p>&nbsp;<\/p>\n<p>Going forward, the MOFCOM will continue to promote the resumption of business amidst the ongoing containment efforts, expand consumer spending, work faster to unleash domestic demand, and provide solid support for maintaining economic development and social stability, ensuring and improving living standards and forming a strong domestic market, Wang remarked.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Kong Dechen, People\u2019s Daily Yu&#46;&#46;&#46;<\/p>\n","protected":false},"author":1,"featured_media":24733,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11,8],"tags":[],"class_list":["post-24732","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","category-china"],"_links":{"self":[{"href":"https:\/\/lapost.us\/index.php?rest_route=\/wp\/v2\/posts\/24732","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/lapost.us\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/lapost.us\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/lapost.us\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/lapost.us\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=24732"}],"version-history":[{"count":1,"href":"https:\/\/lapost.us\/index.php?rest_route=\/wp\/v2\/posts\/24732\/revisions"}],"predecessor-version":[{"id":24734,"href":"https:\/\/lapost.us\/index.php?rest_route=\/wp\/v2\/posts\/24732\/revisions\/24734"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/lapost.us\/index.php?rest_route=\/wp\/v2\/media\/24733"}],"wp:attachment":[{"href":"https:\/\/lapost.us\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=24732"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/lapost.us\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=24732"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/lapost.us\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=24732"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}