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China readying for expected tourism boom during National Day holiday

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China readying for expected tourism boom during National Day holiday

2024-09-26 22:44 Last Updated At:23:37

China is likely to see a huge surge in tourist numbers during the upcoming National Day holiday according to industry insiders, as more travelers up and down the country are planning to make the most of the week-long holiday period to enjoy a relaxing getaway or head out sightseeing.

The National Day holiday, which starts Oct. 1 and is known as ‘Golden Week’, is one of China's biggest annual public holidays, and online travel agencies have reported that more than half of the tourists who have confirmed their travel itineraries are planning longer trips to domestic destinations or overseas.

China's central government and local authorities are also planning various cultural and tourism events to entertain visitors around the country with millions expected to be on the move.

"This year's National Day marks the 75th anniversary of the founding of the People's Republic of China, so ‘red’ tourism, as well as trips for autumn (weather), and family reunions are expected to increase. Taking into consideration the travel intention of citizens, the index of tourism bookings, and the preparations made nationwide, we estimate that the total number will hit a record high during the National Day holiday," said Dai Bin, President of China Tourism Academy. A similar trend can be seen in Shanghai, where many hotels are reporting over 90 percent occupancy during the seven-day holiday, with the most popular accommodations already being fully booked well in advance.

"Bookings for two consecutive days or longer account for 60 percent, marking a 46 percent year-on-year increase. In addition, as the demand for family travel grows, double rooms are becoming increasingly popular, making up nearly 60 percent of bookings," said Jia Yaping, the general operations manager of a hotel in the city's Pudong District.

For hotels in some of the city’s most sought-after locations, the peak season begins on the weekend before the holiday as more people look to take advantage of an extended break.

"For ten consecutive days from September 28 to October 7, all three themed hotels in the park will be over 95 percent full. The hotel prices have risen by 10 percent compared to the summer holidays. The impact of this longer vacation is clear," said Jiang Lu, the deputy general manager of a themed resort hotel in Shanghai.

China readying for expected tourism boom during National Day holiday

China readying for expected tourism boom during National Day holiday

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China's industrial profits up 0.5 pct in Jan-Aug

2024-09-27 10:07 Last Updated At:11:37

China's major industrial enterprises registered a 0.5 percent increase in the first eight months of this year from the same period one year earlier, according to data released by the National Bureau of Statistics (NBS) on Friday.

The NBS data showed that combined profits of industrial firms with an annual main business revenue of at least 20 million yuan (about 2.81 million U.S. dollars), or industrial enterprises above designated size, totaled about 4.653 trillion yuan in the January to August period.

Given the high base in the same period of 2023, profits of major industrial firms registered a year-on-year decrease of 17.8 percent in August alone, according to the NBS.

From January to August, among the industrial enterprises above designated size, state-owned enterprises realized a total profit of 1.549 trillion yuan, a year-on-year reduction of 1.3 percent, while the profit of joint-stock companies also decreased by 1.3 percent to 3.443 trillion yuan.

Meanwhile, the foreign-invested companies gained a total profit of nearly 1.178 trillion yuan, a year-on-year increase of 6.9 percent, while the profit of private companies rose 2.6 percent to approximately 1.265 trillion yuan.

By sectors, the profit of mining industry fell by 9.2 percent year on year during the period, but that of manufacturing sector and power, heat, gas and water production and supply grew by 1.1 percent and 14.7 percent, respectively, NBS data showed.

A breakdown of the data showed profits of industrial categories including nonferrous metal smelting and rolling, computer, communications and other electronic equipment manufacturing, agricultural and sideline food processing, electricity and heat production and supply, as well as textile industry posted strong growth.

China's industrial profits up 0.5 pct in Jan-Aug

China's industrial profits up 0.5 pct in Jan-Aug

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