economy
CHINESE RAILWAY NETWORK BREAKS NEW PASSENGER RECORD: As many as 24.8 million passengers recorded in one day, during May 1st
The Chinese railway network broke a new passenger record on Friday, May 1st, with 24.8 million passengers recorded on that single day, the state-owned China Railway announced yesterday.
TL;DR
- China's railway network set a new daily passenger record with 24.8 million journeys on May 1st.
- A total of 117 million train tickets have been sold for the Labor Day holiday period.
- The record travel numbers suggest a potential recovery in consumer spending.
- China Railway scheduled thousands of extra trains to meet demand.
- The strong domestic tourism is a positive sign for the economy, which has faced challenges.
- China has been relying on exports to support economic growth amidst weak domestic consumption.