Chunyun, the world’s largest annual human migration, officially kicked off on Jan. 14 in China ahead of the Spring Festival. Authorities predict travel volumes will hit new highs during the 40-day travel rush. The latest episode of the China Economic Roundtable, an all-media talk show hosted by Xinhua News Agency, spotlighted key trends shaping this year’s travel season, including record-breaking travel numbers, booming tourism, transformative technologies, the rise of electric vehicles and a surge in inbound travel. TRAVEL PEAK The…

China’s transport sector has enhanced services to ensure satisfying travel experiences for passengers and address the challenges posed by the large-scale movement of people, said the country’s transport authorities. Students and migrant workers are key groups during the Spring Festival travel rush, which kicked off on Jan. 14. This year, for the first time, certain ticket purchasing requirements for students have been relaxed, and a pre-booked system has been launched for them, said Zhu Wenzhong with the China State Railway…

This year’s Spring Festival travel rush is poised to set new records for travel numbers, marked by several notable changes, according to China’s transport authorities. The world’s busiest travel season, driven by the Chinese ritual of family reunions, kicked off on Jan. 14 this year. China is anticipating a record-breaking 9 billion inter-regional trips during this year’s Spring Festival travel rush, with significant shifts, noted Wang Xiuchun, an official with the Ministry of Transport, who joined the latest episode of…

Domestic demand, which encompasses both consumption and investment, is a crucial engine for economic growth, linking the economy with societal well-being. As the effects of the country’s supportive policies continued to filter through, China saw a noticeable pickup in consumption growth and a stable increase in fixed-asset investment in October, noted guest speakers who joined the ninth episode of the China Economic Roundtable, an all-media talk show hosted by Xinhua News Agency, which was broadcast on Monday. Here are the…

As China navigates a complex global economic landscape, it seeks to stimulate domestic demand to tackle both immediate and long-term challenges. China’s policy for invigorating consumer spending and investment has produced results, according to guest speakers who joined the ninth episode of the China Economic Roundtable hosted by Xinhua News Agency, which was broadcast on Monday. GATHERING STEAM China has stepped up efforts, combining immediate policy measures with structural reforms, to stimulate domestic demand. Thanks to these measures, including promoting…

China’s green and low-carbon development features bright spots and nurtures new opportunities, an official with the country’s energy administration has said.  Wind power and photovoltaics have become major contributors to China’s newly added installed capacity and important forces in the country’s energy supply network, National Energy Administration official Pan Huimin said during the latest episode of China Economic Roundtable, an all-media talk platform hosted by Xinhua News Agency.  Since 2020, China’s annual newly added installed capacity of wind power and…

China’s move to raise its statutory retirement age is a proactive and effective measure tackling the challenge of population aging, according to guest speakers at the China Economic Roundtable, an all-media talk platform hosted by Xinhua News Agency. According to a decision adopted by Chinese lawmakers on Friday, the statutory retirement age will be gradually raised from 60 to 63 for men over the course of 15 years from 2025, from 55 to 58 for women working as cadres, and…

China’s economic outlook remains positive as the country’s consumer spending surged in the first quarter (Q1) of 2024, signaling a strong contribution to domestic demand and overall economic growth China’s retail sales of consumer goods, a major indicator of the country’s consumption strength, climbed 4.7 percent year on year in Q1 2024, according to data from the National Bureau of Statistics (NBS). Analysts believe that the sustained growth in consumer spending is a testament to China’s economic resilience and the…

China has sped up industrial upgrading by cultivating new quality productive forces, laying a solid foundation for strengthened recovery momentum this year and beyond. The following are some figures highlighting the country’s progress in certain areas within the first quarter (Q1) of this year. EMERGING INDUSTRIES The high-tech manufacturing sector registered a growth of 7.5 percent in Q1, accelerating by 2.6 percentage points from the fourth quarter of 2023. Investment in high-tech industries has experienced robust growth, increasing by 11.4…

China’s ongoing drive to advance high-quality development will create new opportunities for enterprises, according to industry insiders who joined the fourth episode of the China Economic Roundtable, an all-media talk platform hosted by Xinhua News Agency “We started from scratch like many other small Chinese companies, but after reaching a certain size, we had to undergo a major transformation to extend the growth momentum,” said You Hongtao, chairman of Chongqing Pharscin Pharmaceutical Co., Ltd. Today the company is listed on…