China Raup Rp314 Trillion During The Labor Holiday Season

Beijing China/ILLUSTRATION VIA UNSPLASH/zhang kaiyv

JAKARTA - China earned 148 billion yuan or around Rp314.4 trillion during the International Labor Day or May Day holiday season.

"With China's economic frenzy, this May Day holiday has become a 'gold week'," said Chinese Foreign Ministry (MFA) spokesman Mao Ning in Beijing as reported by ANTARA, Thursday, May 4.

Citing related department data, he said the revenue was made from 274 million domestic travel.

In terms of the number of tourist visits, the momentum of this year's May Day holiday has increased by 70.8 percent compared to last year.

This year's total revenue grew by 128.9 percent compared to the same momentum last year.

"Busing tour packages abroad has also jumped seven times," he said at the regular press briefing.

Chinese authorities set a three-day Labor Day holiday on May 1-3, 2023. If added with a weekend holiday, the number of holidays will be five days.

The skyrocketing income from the tourism and transportation sector has increased China's confidence in the recovery of the national economy after slumping in 2022.

Mao is optimistic that China's economic recovery will make a major contribution to the economy in the Asia Pacific region and globally as the Religious Economic Outlook for Asia and Pacific published by the International Monetary Agency (IMF).

The Chinese economy is estimated to grow 5.2 percent this year and contribute 34.9 global economic growth.