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Data released on Thursday showing a drop in consumer prices to their lowest since the COVID-19 pandemic has increased the doubts in China's economic rebound after some months of indicators showing growth stabilising. China's big online shopping platforms did not release final sales figures for 2022, when analysts said COVID-19 restrictions inhibited spending and consumer confidence. Some indicators point to a slowdown in Singles Day sales. Data provider Syntun estimated e-commerce platforms sold 311 billion yuan of products from Oct. 31 to Nov. 3, a 7.1% decrease year-on-year. For Tan Jiapeng, a 35-year-old office worker in Beijing, his only Singles Day purchase so far has been a Descente winter jacket, an "essential purchase" for the winter.
Persons: Florence Lo, Jason Yu, Kantar, COVID, Bain, Jacob Cooke, Nomura, Tan Jiapeng, Tan, Casey Hall, Sophie Yu, Marius Zaharia Organizations: REUTERS, Rights, HK, PDD Holdings, Company, Technologies, Thomson Locations: Rights BEIJING, China, Beijing
Airlines are drawing up plans to expand their services but ordinary Chinese and travel agencies suggest that a return to anything like normal will take some time. But an immediate surge in international travel is not widely expected. According to VariFlight data, international flights to and from China are at 8% of pre-pandemic levels. Weighing on many people's travel plans is the wave of COVID-19 infections now sweeping China, Liu said. One of the fastest bouncebacks is expected to be in international business travel.
Passengers wearing face masks following the coronavirus disease (COVID-19) outbreak sit in a sightseeing bus during a night tour, ahead of the Chinese National Day Golden Week holiday in Beijing, China September 26, 2022. REUTERS/Florence LoBEIJING, Sept 29 (Reuters) - Travel during China's Golden Week holiday, which begins on Saturday, is set to hit its lowest in years, analysts say, as COVID-19 concerns spur calls for people to avoid travel and keep to their cities, while economic woes damp spending. If trips this holiday reached half the levels of 2019 and spending over the period reached 30% to 40% of holiday spending before the pandemic, that would amount to a "pretty good" result, he added. In the past two years, China's Golden Week travel and spending have fallen short of the levels of 2019, which racked up 782 million trips and tourism revenue of 650 billion yuan ($90 billion). Sanya "is not back", said Shirley, the manager of a luxury store in the city, where travel industry workers despair of the return of Golden Week tourists.
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