According to data from China’s migration administration bureau, the number of mainland tourists crossing the border into Hong Kong in the first six days of golden week plunged 15.1 per cent from the same period a year ago, due in part to the reduced flow between Shenzhen and Hong Kong. Photo: Xinhua

China’s ‘golden week’ loses some of its shine as consumers show reluctance to spend amid US trade war

  • Retail and catering sales rose 8.5 per cent, decelerating from a 2018 growth rate of 9.5 per cent, marking the slowest growth since the comparison was published in 2001
  • Number of tourists who stayed in China during the seven-day holiday rose 7.8 per cent from a year ago to 782 million, but the growth rate was the lowest in a decade
Topic |   China economy

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According to data from China’s migration administration bureau, the number of mainland tourists crossing the border into Hong Kong in the first six days of golden week plunged 15.1 per cent from the same period a year ago, due in part to the reduced flow between Shenzhen and Hong Kong. Photo: Xinhua
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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

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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