Figures from China's five-day Labor Day holiday show a strong recovery in the tourism sector and consumer markets, helping to inject fresh growth into the revival of the nation's economy after COVID-19 pandemic. China's Ministry of Culture and Tourism said 274 million trips were made nationwide during the holiday, a year-on-year increase of nearly 71%, surpassing the 2019 Labor Day holiday. What does the strong growth in tourism mean to overall economic expansion? And what are the challenges ahead for China's economy?
Guests in this episode are Rick Dunham, visiting scholar at Tsinghua University; Qu Qiang, assistant director of the International Monetary Institute at Renmin University of China; Hong Hao, chief economist of GROW Investment Group; and Michele Geraci, former under-secretary of state at the Ministry of Economic Development of Italy and professor of Finance at Nottingham University Ningbo.