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China’s tourism industry is preparing for sluggish growth during the National Day holiday. The continued downturn in the housing market, slowdown in manufacturing activity, and rising unemployment have further eroded consumer confidence. Although China’s central bank has recently launched a series of monetary stimulus policies to boost demand, economists believe this is not enough to reverse the economic situation, and fiscal support is still necessary.
No money! Tourists drop sharply during China’s National Day, shopping malls are deserted.
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