China and Japan Anticipate Boost in Consumer Spending During Extended Lunar New Year Holiday

As the Lunar New Year approaches, China and Japan are gearing up for a potential increase in consumer spending. With the Chinese government extending the holiday to stimulate spending in a slowing economy, and Japan’s tourism and retail industries optimistic due to a weaker yen, there is hope for economic uplift. However, challenges such as China’s job market woes and Japan’s severe labor shortage may impact the extent of this spending spree.

  • SoftBank Group to announce earnings for October to December period with a significant loss previously reported.
  • China to release January Consumer Price Index, with recent months showing a fall in the inflation rate.
  • The Chinese Lunar New Year holiday period to last 7 days, with an additional day this year to boost consumer spending.
  • China anticipates 9 billion domestic trips during the 40-day Lunar New Year travel period, doubling from the previous year.
  • Concerns over China’s job market could dampen the effects of the government’s efforts to stimulate consumer spending.
  • Japan’s tourism and retail industries hopeful due to the favorable exchange rate against the Yuan.
  • Economic slowdown in China may affect younger generations’ ability to travel abroad, including to Japan.
  • Flights between China and Japan have increased but are still at only 40% of pre-pandemic levels due to Japan’s labor shortage.
  • Economists are watching to see if the holiday spending will provide the expected stimulus to both economies.

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Original video here.

This summary has been generated by AI.