China's Golden Week drew 826m domestic trips, but spending per trip fell 1.9% to ¥893.92, the lowest since 2022. Factory input costs are outpacing output prices, and the central bank's rate cut and lending quotas favour producers over households.
Golden Week drew more domestic travellers even as spending per trip slipped to the weakest since 2022, underscoring a volume-over-value holiday. Source
Golden Week brought volume and no pricing power. The Ministry of Culture and Tourism counted 826m domestic trips from October 1 to 7, with ¥738.38bn of spending. Against last year's eight-day holiday, daily-average trips rose 6.3% and daily-average spending rose 4.3%. Reuters calculated that spending per trip fell 1.9% to ¥893.92, the lowest since 2022. That figure is Reuters' own arithmetic, not an official statistic.
