Posted 2/19/2024, 9:49:15 AM
Chinese holiday spending surges past pre-pandemic levels, but economic concerns linger
- Chinese consumers spent big over Lunar New Year holiday period - $88B in tourist spending, beating pre-pandemic levels
- Mainland visitors made up 90% of inbound travelers to Hong Kong over the holiday
- Analysts cautious about reading too much into holiday spending surge
- Signs of weakness remain - falling consumer prices, stock market decline
- Chinese premier calls for restoring economic confidence and trust of the people
