Almost half a billion people are going on holiday, says Bloomberg News. China’s October Golden Week saw 425 million people travelling during the first four days alone, according to official figures. That is almost 80% of last year’s level. China has gone six weeks without a reported Covid-19 case and the holiday is a key test of what life will look like beyond the pandemic.
China’s economy could do with a boost from consumers, Françoise Huang of Euler Hermes told the Nikkei Asian Review. Its strong recovery in the second and third quarters has been led by construction and infrastructure, with consumption “somewhat sluggish”. The OECD forecasts that China will grow 1.8% for 2020 as a whole, the only G-20 nation to expand this year.
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