[Tree] Chinese tourists using social media for travel planning

Version 0.21 (2024-09-08 01:38:04.021000)

updates: Increased use of social media for travel recommendations

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Version 0.2 (2024-06-28 11:05:02.684000)

updates: Add information about Domino's Pizza China expansion

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Version 0.19 (2024-06-06 13:36:12.896000)

updates: Meituan's strong quarterly revenue growth and expansion plans

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Version 0.18 (2024-04-26 23:37:23.790000)

updates: The addition of Haidilao International Holding beating earnings expectations

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Version 0.17 (2024-04-16 22:45:03.920000)

updates: The story now includes information about Hainan Meilan International Airport's earnings report

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Version 0.16 (2024-03-25 04:20:11.743000)

updates: Meituan's positive earnings and performance in the Chinese food delivery market

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Version 0.15 (2024-02-21 07:23:17.105000)

updates: Includes information about growth in restaurant footfall and average daily spending during Lunar New Year holiday

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Version 0.14 (2024-02-20 03:03:31.837000)

updates: Analysts caution that the strong growth in tourism and consumption data during the Lunar New Year holiday may not be as strong as it seems and could be a sign of weak consumer demand in China. Signs of deflation and lower average spending per trip are also emerging, highlighting the challenges faced by policymakers in stimulating domestic consumption. [919ffe46]

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Version 0.13 (2024-02-19 08:39:28.380000)

updates: The Lunar New Year tourism spending has surged past pre-pandemic levels, reaching 632.7 billion yuan ($87.96 billion), a 47% increase compared to the same period last year. Domestic trips increased by 34% from the previous year and 19% higher than pre-pandemic levels in 2019. Average spending per trip was down by approximately 9.5% compared to 2019. The surge in spending is seen as a result of pent-up demand and the longer-than-usual holiday period. Foreign direct investment in China has also reached its lowest level since 1993. Alipay has reported a surge in overseas transactions, surpassing the numbers from 2019. The top destinations for Chinese travelers are Japan, Southeast Asia, France, and Australia. Total cross-border spending on leading e-wallets powered by Alipay+ has increased by 252% year-on-year. Visa, Mastercard, JCB, Discover, and Diners Club International have expanded their collaboration with Alipay for travelers linking their international credit or debit cards to their Alipay e-wallet. China witnessed around 13.52 million inbound and outbound trips during the holiday, growing by 2.8 times from the same holiday period last year. The country's box office revenue exceeded 8 billion yuan (US$1.11 billion) over the eight days, marking a new record high.

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Version 0.12 (2024-02-19 04:18:17.397000)

updates: Updated information on China's Lunar New Year tourism spending

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Version 0.11 (2024-02-19 03:34:29.006000)

updates: China's tourism spending during Lunar New Year surpasses pre-Covid levels

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Version 0.1 (2024-02-18 13:17:51.786000)

updates: China's travel spending during Lunar New Year holidays beats pre-Covid levels

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Version 0.09 (2024-02-16 14:24:33.305000)

updates: China's travel spending rebounds during Chinese New Year break

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Version 0.08 (2024-01-21 13:53:21.736000)

updates: Added information about Chinese travel spending and its impact on the yuan

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Version 0.07 (2023-12-13 14:59:32.646000)

updates: The Institute of International Finance predicts a capital outflow of US$65 billion in 2024 due to geopolitical risks and waning investor sentiment.

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Version 0.06 (2023-11-29 00:07:17.679000)

updates: Updated information on the acceleration of capital flight from China and its impact on the yuan

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Version 0.05 (2023-11-29 00:06:47.344000)

updates: Analysts debate whether Chinese capital flight will impact Bitcoin

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Version 0.04 (2023-11-28 22:37:49.644000)

updates: Inclusion of information about gold smuggling and investment in foreign bank accounts

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Version 0.03 (2023-11-28 08:57:29.189000)

updates: Restructured and enhanced content for clarity and impact

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Version 0.02 (2023-11-23 18:05:39.811000)

updates: Foreign firms in China are sending their profits home or elsewhere in Asia, causing a net outflow of foreign-based funds. This has contributed to the decline of China's yuan. While some of the movement reflects temporary factors like interest rate differentials, more fundamental influences such as China's weakening economy and strained trade relations with the West are also causing funds to flow out. Beijing's increased belligerence toward Taiwan and surveillance of foreign firms operating in China further discourage foreign businesses. These earnings trends pose challenges to China's efforts to re-establish its growth trend.

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Version 0.01 (2023-11-22 00:35:31.936000)

updates: Updated information on capital outflows and challenges in attracting foreign investment

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Version 0.0 (2023-11-22 00:33:22.970000)

updates:

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