(Beijing Comprehensive News) China Spring Festival in 2024 will be launched next Friday (January 26). It is expected that the traffic volume of Chinese cross -regional personnel in the Spring Festival this year will reach a record high, reaching 9 billion people.
According to China Youth Network, Li Yang, deputy minister of the Ministry of Transport, said at the press conference on Tuesday (January 16) that structural changes in China's Spring Festival this year, traditional business transportation includes railways, highways, civil aviation,, civil aviation,,, civil aviation,,, civil aviation,,,, civil aviation,,Water transport passenger traffic is expected to reach 1.8 billion, and the remaining 80%will travel by car, and self -driving travel will reach a record high.
This year's Spring Festival in China will last until March 5.Li Yang said that within 40 days of the Spring Festival, about 9 billion people travel, visit relatives, leisure, etc., may hit a record high.
The person in charge of the China National CDC said that due to the sharp rise in personnel flow, it is expected that the crown disease epidemic may rise to a certain extent before the Spring Festival.The National CDC will make medical resources and preparations for epidemic prevention in advance.
The Spring Festival holiday is also the peak period for the Chinese people's outbound tour.Bloomberg analyzed that after the epidemic restriction was lifted, the Chinese people were "retaliated" traveling abroad. Their foreign exchange demand may further put pressure on the weakened RMB, especially when the Spring Festival holiday is coming.
As investors bet on the Chinese government to further relax their policies and increase their rates of US Treasury bonds, the renminbi has fallen for two consecutive weeks.
Fiona Lim, a high -level foreign exchange strategist at the Bank of Malayan in Singapore, said that China ’s outbound tourism has recovered slowly in 2023, but it may be accelerated with the increase in overseas flights. This should cause pressure on China's frequent account balances.It is fundamentally unfavorable to RMB, especially on the basis of trade weighted in 2024.
