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Chinese government has cut highway fees. Chinese government asked more than a hundred of tourists attractions to reduce entry fees.Naturally, people are travelling. Highways are super congested, and so are many tourist attractions (even though many of those which do cut entry fees are said to be the less popular ones).
The government cuts prices on highways and tourist spots, car and foot traffics go through the roof, and official data confirm it.
Then you have economist from Bank of America Merrill Lynch saying this (via Beyondbrics):
Robust Golden Week tourism data also suggest that China‘s GDP data, despite the low quality, might be more real than what’s perceived by bears who are focused too much on power usage and industrial production. Tourism data also point to a shift of consumption toward leisure, a new source of demand.
Right, thank you very much, for Christ’s sake.
This article originally appeared here: The very “golden” golden week tourism data
Also sprach Analyst – World & China Economy, Global Finance, Real Estate
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