There are two components related to China and the faltering economic rebound.
Tourism data cited on Chinese state television (CCTV) said that travel during the Dragon Boat Festival holiday from June 22-24 rose in 2022 but fell 22.8% from pre-COVID levels of 2019.
- The number of rail trips jumped 12.8% higher than the same period in 2019
- Road travel is down 33.3% from the same period in pre-COVID 2019
- Trips decreased by 43.6%
- The number of trips on flights increased by 3% from 2019
Meanwhile, at least two South Korean airlines have cut flights to and from China, due to low demand and strained relations between the two countries. Yonhap reported suspensions of flights on some routes until late October by Korean Air and Asiana Airlines.
Markets are watching data from China for signs of economic progress as its rebound from COVID dissipates. Eyes also on stimulus measures. Most recently, interest rate cuts (eg central bank
central bank
A central bank is a financial institution that manages a country’s monetary policy, and often this also involves issuing and/or monitoring currency and regulating the money supply. Central banks also typically act as lenders of last resort to banks in times of financial crisis, and can also supervise and regulate banks and other financial institutions. Examples of central banks include the Federal Reserve in the United States, the European Central Bank, and the Bank of Japan
A central bank is a financial institution that manages a country’s monetary policy, and often this also involves issuing and/or monitoring currency and regulating the money supply. Central banks also typically act as lenders of last resort to banks in times of financial crisis, and can also supervise and regulate banks and other financial institutions. Examples of central banks include the Federal Reserve in the United States, the European Central Bank, and the Bank of Japan
Read this termReduced to LPRs), which were small in size, more massive fiscal stimulus should mitigate market concerns a little bit more than these.
Chinese leadership is more focused on political issues, support for Putin and the two threats to Taiwan, than the economy at present.
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Anyway, I’ll let you all come back to know what’s going on in the Russian coup