Shanghai

September 30, 2024 3:38 PM

Cost-conscious Chinese tourists look to affordable options for Golden Week holiday

Chinese tourists are expected to take longer trips than last year during the Golden Week holiday that kicks off on Tuesday, but that will not necessarily lead to a bump in spending, travel industry experts said. With the economy slowing and consumer confidence hovering just above historic lows, they expect many travellers over the week-long National Day break will opt for cheaper domestic or short-haul overseas destinations and take advantage of a decline in airfares. The holiday period has tr...

September 27, 2024 3:07 PM

China launches late stimulus push to meet 2024 growth target

China's central bank on Friday lowered interest rates and injected liquidity into the banking system as Beijing assembled a last-ditch stimulus assault to pull economic growth back towards this year's roughly 5% target. More fiscal measures are expected to be announced before China's week-long holidays starting on Oct. 1, after a meeting of the Communist Party's top leaders showed an increased sense of urgency about mounting economic headwinds. Reuters reported on Friday, citing sources, that ...

July 4, 2024 4:53 PM

China warns of hotter, longer heatwaves as climate change intensifies

China is facing hotter and longer heatwaves and more frequent and unpredictable heavy rain as a result of climate change, the weather bureau warned on Thursday, as the world's second-biggest economy braces for another scorching summer. In its annual climate "Blue Book", the China Meteorological Administration (CMA) warned that maximum temperatures across the country could rise by 1.7-2.8 degrees Celsius within 30 years, with eastern China and the northwestern region of Xinjiang set to suffer th...