MNI BRIEF: China Spring Festival Trips Up 5.9% Y/Y

China saw 501 million domestic trips during the Spring Festival holiday, up 5.9% on the 2024 holiday, the Ministry of Culture and Tourism announced on Wednesday.

Total domestic spending reached CNY677 billion over the festive period, increasing 7.0% from 2024, the Ministry added. 

China will need to provide around an additional CNY3 trillion in fiscal funds in 2025 alongside greater economic reforms to maintain 5% GDP growth, a senior policy advisor told MNI. (See MNI INTERVIEW: China Needs Further CNY3 Trn To Keep 5% GDP)