Urban workers are flocking to train stations across China’s biggest cities, amid a surge in expatriate workers returning to their homeland for the Lunar New Year holiday.
This is an early signal of economic recovery China following recording historically low growth due to the impact of restrictions related to COVID-19.
Official statistics released on January 17 show that China’s economy will grow only 3% in 2022. This is one of the slowest growth rates of the world’s second-largest economy. over the past 40 years, mainly due to the prolonged effects of the COVID-19 pandemic accompanied by strict blockade orders, as well as the effects of the real estate market crisis.
Travel activities With the Chinese New Year bustle for the first time in nearly three years following the Chinese government eased some pandemic-related restrictions, the world’s second-largest economy will benefit from the hundreds of thousands of people spend more every day when they return home.
While many analysts expect a gradual return to normal as the impact of COVID weakens, some see Lunar New Year is an opportunity to promote early consumption. Nie Wen, economist at investment firm Hwabao Trust, said: “The highest level of COVID-19 infections passed in major cities in January 2023. Spring Festival is coming, tourism is back and signs of recovery in consumption are clear.”
However, health experts fear the COVID-19 outbreak is spreading and deepening, leaving elderly people in rural villages especially vulnerable, even as workers have returned. city.
[Chuyên gia dự đoán kinh tế Trung Quốc phục hồi ổn định trong năm 2023]
Ministry of Transport of China It is estimated that the Tet travel rush will see a total of 2.1 billion trips nationwide from January 7-15, as many Chinese city dwellers take their first travel opportunity. their Lunar New Year holiday to meet their extended family back home.
Chinese state media reported that regarding 390,000 passengers are expected to depart from Shanghai train stations on January 17 alone during the Lunar New Year holiday – seen as a major annual “migration”. world before the COVID pandemic.
According to data reported by Shanghai Securities News, the major holiday has also sparked a revival of the domestic air travel industry with more than 70,000 flights across China from January 7-13, equivalent to more than 80% of the levels recorded before the pandemic.
International air routes are also recovering. On January 16, Emirates Airlines became the latest airline to announce that it will resume services from its hub Dubai to Shanghai this week, and will operate daily flights to Shanghai and Beijing from June 1. Three years now.
Minh Trang (VNA/Vietnam+)
