China targets foreign tourists for Lunar New Year ‘consumption feast’
A nine-department plan aims to turn the 9-day holiday into a 'consumption feast' for inbound travelers.
Deep Dive
China's government, via a joint initiative from nine central departments, launched a plan to transform the extended Lunar New Year holiday into a major economic driver. The strategy focuses on inbound tourism by increasing international flight capacity and improving foreign payment access. It aims to counter slowing domestic demand, as 2025 retail sales grew only 3.7%, by tapping the untapped spending potential of international visitors during the crucial holiday period.
Why It Matters
This signals a strategic pivot towards consumption-driven growth and opens new opportunities in tourism and cross-border services.