China's New Year Travel Surge Signals Consumer Spending Pickup.

China's Lunar New Year holiday saw a surge in travel, indicating a potential pickup in consumer spending in the country. Over 61 million rail trips were made in the first six days of the holiday, a 61% increase compared to the previous year. Initial data also showed improvements in road and air trips, as well as a surge in hotel sales on Chinese e-commerce platforms. However, box office receipts were slightly lower than last year, suggesting reduced spending per trip. The Lunar New Year holiday is an important indicator of consumption in China, and the country is expected to release tourism spending data at the end of the holiday period. [Extracted from the article]