Chinese consumers traditionally spend large on travel during golden week, but huge crowds at popular tourist sites appear to have deterred some travellers. Photo: Imaginechina

China consumers cut back on travel during ‘golden week’ holiday due slowing growth, weaker yuan

  • Many Chinese consumers are forgoing expensive trips abroad amid a slowdown in the economy and decline in the value of the yuan
  • Online travel site Ctrip.com International says weak outbound travel demand and a decline in air ticket prices may affect third quarter earnings
Topic |   China economy

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Chinese consumers traditionally spend large on travel during golden week, but huge crowds at popular tourist sites appear to have deterred some travellers. Photo: Imaginechina
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Despite the government’s concerns about rising debt levels, Chinese consumers continue to pump their money into property. Photo: Reuters

China to survey 30,000 households about debt levels as financial risks continue to rise

  • Study will provide government with a clearer picture of people’s repayment capabilities and could influence future macroeconomic policy decisions, lender says
  • Ratio of household debt to gross domestic product rose by 2.1 percentage points in first six months to 55.3 per cent, think tank says
Topic |   China economy

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Despite the government’s concerns about rising debt levels, Chinese consumers continue to pump their money into property. Photo: Reuters
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