LunarNewYear

China's Services Sector Growth Stumbles Despite Holiday Spending Surge

2 months ago

In a surprising turn of events, China's services sector has reported a slowdown in growth, contradicting expectations of a robust performance bolstered by the recent Lunar New Year holiday. Data released by the National Bureau of Statistics (NBS) reveals that the Services Purchasing Managers' Index (PMI) dipped to 51.5 in January, a decline from December's 52.2. A reading above 50 indicates expansion, yet this latest figure has raised concerns about the sustainability of China's economic rebound.

Lunar New Year Boosts Hong Kong's Tourism with 6% Rise in Visitor Numbers

3 months ago

Hong Kong has experienced a notable surge in tourism during the recent Lunar New Year celebrations, with official figures indicating a 6% increase in the number of visitors compared to previous years. This news was announced by the city’s finance chief, who provided insights into the economic vitality associated with this annual festival.

China's Generous Auto Subsidies Boost EV Sales During Lunar New Year Celebrations

3 months ago

As the Lunar New Year festivities unfold in China, the country's electric vehicle (EV) market is witnessing a remarkable surge, largely fueled by governmental subsidies aimed at promoting green transportation. These initiatives have proven effective, as evidenced by the significant increases in EV sales during this traditionally busy shopping season.

Chinese Travelers Opt for Budget-Friendly Lunar New Year Holidays

3 months ago

The Lunar New Year is traditionally a time of bustling travel and grand celebrations; however, this year, many Chinese tourists are embracing a more frugal approach to their holiday plans. Reports indicate that a significant number of travelers are choosing local destinations over long-distance trips. This shift appears to be influenced by the economic pressures facing families as well as a change in mindset towards spending during festive occasions.

China's EV Subsidy Extension Heralds Prosperity for Lunar New Year

3 months ago

In a significant move that is expected to invigorate the electric vehicle (EV) market, the Chinese government has announced an extension of its subsidies for electric vehicles. The new paves the way for a brisk Lunar New Year ahead, enhancing consumer confidence and boosting sales in a time typically known for increased spending and gift-giving.