November 22, 2024 23:10 (IST)
Follow us:
facebook-white sharing button
twitter-white sharing button
instagram-white sharing button
youtube-white sharing button
Centre to send over 10,000 additional soldiers to violence-hit Manipur amid fresh violence | Chhattisgarh: 10 Maoists killed during encounter with security forces in Sukma | Baba Siddique murder case: Arrested Akashdeep Gill used a labourer's hotspot to evade tracking, say police | Donald Trump picks 'smart and tough' Pam Bondi as new US Attorney General after Matt Gaetz withdraws | Canadian government denies media report that claims PM Modi knew of Khalistani leader Nijjar's killing
Analysts believe China's economy is declining as Lunar New Year holiday consumption shows sluggish movement
China Economy
Representational image from Pixabay

Analysts believe China's economy is declining as Lunar New Year holiday consumption shows sluggish movement

| @indiablooms | 09 Feb 2022, 06:43 pm

Beijing: Analysts believe China's economy may be declining as a signal of it was seen when consumption over the week-long Lunar New Year holiday in China failed to get anywhere near pre-pandemic levels.

During the holiday period that ended on Sunday, Chinese tourists took 251 million trips and contributed 289.2 billion yuan ($45.4 billion) in tourism revenue – 26.1 percent and 43.7 percent less than the respective totals during the holiday in 2019, and 2 per cent and 3.9 per cent below the holiday last year, according to the Ministry of Culture and Tourism, reports The South China Morning Post.

Similar to last year, local authorities across the country urged people to stay put for the holiday, while ramping up efforts to curb travel, including by imposing stringent quarantine measures and offering cash handouts to people who stuck around, the newspaper reported.

China is believed to be the nation from where COVID-19 emerged.

Cases are still reported from the country.
 

Support Our Journalism

We cannot do without you.. your contribution supports unbiased journalism

IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.

Support objective journalism for a small contribution.
Related Images
Xi Jinping, Putin in Russia 22 Mar 2023, 02:56 pm
Related Videos