China’s Lunar New Year travel offers spark of economic rebound from COVID crunch

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China’s Lunar New Year travel offers spark of economic rebound from COVID crunch
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Urban workers crowded train stations across China’s largest cities on Tuesday as the country’s mass migration for Lunar New Year holidays hit high gear, an early sign of economic recovery as officials confirmed a historic plunge due to COVID-19 curbs.

“Peak infections passed in major cities in January, and with the Spring Festival coming, tourism is back, and the signs of a recovery in consumption are obvious,” said Nie Wen, a Shanghai based economist at the investment firm Hwabao Trust.

The WHO earlier welcomed Saturday’s announcement after last week warning that China was heavily under-reporting deaths from the virus. The WHO added that it would continue working with China to provide advice and support, but had not yet fixed another formal meeting with Chinese officials after WHO Director General Tedros Adhanom Ghebreyesus spoke with Ma Xiaowei, director of China’s National Health Commission, at the weekend.The Ministry of Transport has estimated the rush will see a total of 2.1 billion passenger trips nationwide between Jan. 7 and Feb.

As travellers moved through stations in Shanghai, China’s largest city, some expressed optimism despite the risks.

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