China extends May Day holiday to stimulate spending

Monitoring Desk

BEIJING: China is creating a four-day break in May, as the government works to stoke consumption.

The May Day holiday on Wednesday, May 1, this year will be extended through Friday, the State Council announced. In exchange, people will have to work on the Sundays before and after to make up for the weekdays off, but the change will mean a four-day weekend for many people.

Long Weekend Get a Way

While this doesn’t create any new days off, it concentrates the holiday and could encourage more people to take trips and spend more on eating out, airlines and hotels. Tourism stocks advanced on the announcement, which comes after data showing retail sales grew at the slowest pace since mid-2003 in the first two months of 2019.

The May holiday falls in a good season for traveling, and the decision is made to meet that demand and make people happier, according to a Xinhua News Agency report which cited an unidentified official at the National Development and Reform Commission.

The official said the government will work to make sure that an exemption from road tolls for passenger cars during public holidays is implemented during this break.

Courtesy: (skift.com)