Visitors throng the Yuyuan Garden in Shanghai, which is famous for its annual lantern show on the Lantern Festival.
The first two months of the year saw a robust comeback of China’s economy after the country’s easing of its COVID-19 response policy. The Spring Festival travel rush and accompanying surge in consumption rebooted the Chinese economy and boosted confidence in its quick recovery. Many sectors experienced a sharp rise in their revenues during the holiday, some having reached 80 percent or more of their pre-pandemic level, and others achieving levels higher even than the 2019 figure.
This renewed economic boom has been evident also in dynamic production activities and a flurry of construction projects. Some enterprises have been compelled to launch a spring recruitment drive in efforts to expand their labor force sufficiently to deal with rising orders. Meanwhile, China’s scrapping of COVID quarantine restrictions has unleashed an influx of international visitors. CEOs and managers of international corporations are clearly delighted at the restored convenience of air travel to China and the chance meeting with their Chinese partners in person.
This issue’s Special Report presents the overall picture of the rebooted Chinese economy by focusing on such fields as tourism, foreign trade, and international cooperation. Meanwhile, it also highlights international investors’ views on the Chinese economy.