Chinese tourism growth slows as overseas travel loses its luster

BEIJING — The rapid growth of Chinese tourism took a bit of a breather during the latest week-long National Day holiday, government data indicate. “Golden Week data point to a slowdown,” Ting Lu, Nomura’s chief China economist, said in the title of a report distributed Wednesday. “As China’s economy has become increasingly reliant on consumption to drive its growth, data from ‘golden weeks’ have become a good barometer of China’s consumption growth trend.” Tourism growth slowed during another go


BEIJING — The rapid growth of Chinese tourism took a bit of a breather during the latest week-long National Day holiday, government data indicate. “Golden Week data point to a slowdown,” Ting Lu, Nomura’s chief China economist, said in the title of a report distributed Wednesday. “As China’s economy has become increasingly reliant on consumption to drive its growth, data from ‘golden weeks’ have become a good barometer of China’s consumption growth trend.” Tourism growth slowed during another go
Chinese tourism growth slows as overseas travel loses its luster Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-09  Authors: evelyn cheng
Keywords: news, cnbc, companies, tourism, chinese, travel, golden, loses, data, consumption, slows, day, days, growth, oct, overseas, week, holiday, million, luster


Chinese tourism growth slows as overseas travel loses its luster

XIAOSHAN AIRPORT, HANGZHOU, ZHEJIANG PROVINCE, CHINA: An outbound tourist group is waiting for check-in in front of the counter of China Customs. Chinese nationals have become the largest number of foreign tourists visiting other countries in 2015 as the number of outbound visitors crossed 120 million, registering an 11 million increase from last year.

BEIJING — The rapid growth of Chinese tourism took a bit of a breather during the latest week-long National Day holiday, government data indicate.

The seven-day vacation from Oct. 1 to Oct. 7 is dubbed “Golden Week” and is one of the few major government-mandated holidays in a country where personal vacation days are few. This year’s National Day was particularly significant domestically since it revolved around massive celebrations on Oct. 1 for the 70th anniversary of the Communist Party’s rule.

Chinese tourist sites received 782 million visits during the holiday, up well over 7% from last year’s 726 million, according to the Ministry of Culture and Tourism. But, that’s slower than reported growth of more than 9% in 2018, and down from a 10% increase in 2017.

Retail and food and beverage sales from Oct. 1 to Oct. 7 grew 8.5% to 1.52 trillion yuan ($212.7 billion), according to the Ministry of Commerce. While a solid figure, that’s a slower pace than the Commerce Ministry’s claims of nearly 10% or higher growth for previous years.

“Golden Week data point to a slowdown,” Ting Lu, Nomura’s chief China economist, said in the title of a report distributed Wednesday. “As China’s economy has become increasingly reliant on consumption to drive its growth, data from ‘golden weeks’ have become a good barometer of China’s consumption growth trend.”

Chinese authorities are trying to boost domestic consumption in an effort to support economic growth. Shortly after a major government meeting in March, authorities announced the May 1 Labor Day holiday would be extended by two days by swapping those working days with weekends, as is typical in China.

Tourism growth slowed during another golden week this year, the Lunar New Year holiday in February. Official numbers for overseas travel during that period were not clear about the actual rate of change.


Company: cnbc, Activity: cnbc, Date: 2019-10-09  Authors: evelyn cheng
Keywords: news, cnbc, companies, tourism, chinese, travel, golden, loses, data, consumption, slows, day, days, growth, oct, overseas, week, holiday, million, luster


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‘There Is No Alternative’ trade loses luster as short-term bond yields hit 10-year high

Investors hunting for yield no longer have to look very far. After a decade in which short-term cash and equivalents earned next to nothing, that part of the market has now begun to pick up and offer legitimate returns for those looking for safety in an uncertain environment. In particular, the three-month Treasury bill’s yield crossed 2 percent recently, the first time that has happened in more than a decade. Short-term government debt has been one of the more popular trades for the past year,


Investors hunting for yield no longer have to look very far. After a decade in which short-term cash and equivalents earned next to nothing, that part of the market has now begun to pick up and offer legitimate returns for those looking for safety in an uncertain environment. In particular, the three-month Treasury bill’s yield crossed 2 percent recently, the first time that has happened in more than a decade. Short-term government debt has been one of the more popular trades for the past year,
‘There Is No Alternative’ trade loses luster as short-term bond yields hit 10-year high Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-07-24  Authors: jeff cox
Keywords: news, cnbc, companies, cash, trade, income, market, high, yields, alternative, luster, uncertain, investors, fixed, 10year, bond, past, billion, hit, yield, shortterm, loses


'There Is No Alternative' trade loses luster as short-term bond yields hit 10-year high

Investors hunting for yield no longer have to look very far.

After a decade in which short-term cash and equivalents earned next to nothing, that part of the market has now begun to pick up and offer legitimate returns for those looking for safety in an uncertain environment.

In particular, the three-month Treasury bill’s yield crossed 2 percent recently, the first time that has happened in more than a decade. The move has come as the Federal Reserve has continued to boost short-term rates and as the economy continues to show signs of picking up, inflation takes root and investors look for safety amid stock market volatility.

Short-term government debt has been one of the more popular trades for the past year, and looks to remain so at least over the medium term.

The trade “does have a bit of legs to it,” said Kim Rupert, managing director of global fixed income analysis for Action Economics. “We’re at areas now where yields are fairly attractive. We’ve been more accustomed to basically zero percent on bills for the longest time.”

For much of the bull market run in stocks and the economic recovery after the financial crisis, investors had been pouring into high-yield bonds and other riskier instruments. But for the past year, that trade has reversed itself.

So-called ultra-short bond funds, which usually focus on fixed income with a year or less of duration, have seen $50.5 billion in new investor cash over the past 12 months through June, an increase of 38.2 percent, according to Morningstar. Since the Fed began raising short-term rates in December 2015, investors have poured in $85.3 billion to the group, compared to the $14 billion of inflows for the previous 2½-year period.

The iShares Short Treasury Bond fund, which tracks maturities of between one month and one year, has seen $7.1 billion of new money in 2018, most by far of any fixed income ETF, boosting its total assets to $15.1 billion, according to FactSet. By contrast, the iShares iBoxx $ High Yield fund has been one of the big losers, seeing an exodus of $2.2 billion as investors shorten their duration and reduce their risk profiles.

“It’s a pretty uncertain environment. We came off a fantastic 2017 in terms of equities. It’s a little bit trickier now,” Rupert said. “Between the China situation and concerns over tariffs and what that might do to growth, a lot of people are looking to park some cash into the short end.”


Company: cnbc, Activity: cnbc, Date: 2018-07-24  Authors: jeff cox
Keywords: news, cnbc, companies, cash, trade, income, market, high, yields, alternative, luster, uncertain, investors, fixed, 10year, bond, past, billion, hit, yield, shortterm, loses


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Cramer Remix: Bitcoin has taken away the luster of gold

Cramer Remix: Bitcoin has taken away the luster of gold 5 Hours Ago | 01:09As concerned as CNBC’s Jim Cramer is about bitcoin’s parabolic rise, he said the insanely popular cryptocurrency has stolen some of gold’s shine. “This whole thing that is bitcoin, bitcoin going up, it has really taken away the luster of gold,” the “Mad Money” host told a caller in a fireside chat on Friday’s show. “Gold has kind of lost its moment here.” But as tempting as bitcoin might be, Cramer still backed gold as th


Cramer Remix: Bitcoin has taken away the luster of gold 5 Hours Ago | 01:09As concerned as CNBC’s Jim Cramer is about bitcoin’s parabolic rise, he said the insanely popular cryptocurrency has stolen some of gold’s shine. “This whole thing that is bitcoin, bitcoin going up, it has really taken away the luster of gold,” the “Mad Money” host told a caller in a fireside chat on Friday’s show. “Gold has kind of lost its moment here.” But as tempting as bitcoin might be, Cramer still backed gold as th
Cramer Remix: Bitcoin has taken away the luster of gold Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2017-12-01  Authors: elizabeth gurdus, jonathan ernst, getty images
Keywords: news, games, cnbc, companies, away, cramer, potential, bitcoin, luster, remix, taken, gold, way, volatility, uncertainty


Cramer Remix: Bitcoin has taken away the luster of gold

Cramer Remix: Bitcoin has taken away the luster of gold 5 Hours Ago | 01:09

As concerned as CNBC’s Jim Cramer is about bitcoin’s parabolic rise, he said the insanely popular cryptocurrency has stolen some of gold’s shine.

“This whole thing that is bitcoin, bitcoin going up, it has really taken away the luster of gold,” the “Mad Money” host told a caller in a fireside chat on Friday’s show. “Gold has kind of lost its moment here.”

But as tempting as bitcoin might be, Cramer still backed gold as the best way to hedge against political uncertainty, rising volatility and the potential of a market correction.

“I think up to 10 percent of your portfolio should be gold” to protect against potential catastrophe, Cramer said, adding that if investors feel comfortable owning physical gold rather than equities, he’d prefer the hard stuff.


Company: cnbc, Activity: cnbc, Date: 2017-12-01  Authors: elizabeth gurdus, jonathan ernst, getty images
Keywords: news, games, cnbc, companies, away, cramer, potential, bitcoin, luster, remix, taken, gold, way, volatility, uncertainty


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Cramer Remix: Bitcoin has taken away the luster of gold

Cramer Remix: Bitcoin has taken away the luster of gold5 Hours AgoJim Cramer weighed in on how gold could be trumped by bitcoin in the market.


Cramer Remix: Bitcoin has taken away the luster of gold5 Hours AgoJim Cramer weighed in on how gold could be trumped by bitcoin in the market.
Cramer Remix: Bitcoin has taken away the luster of gold Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2017-12-01
Keywords: news, games, cnbc, companies, away, gold5, trumped, market, cramer, hours, bitcoin, luster, remix, taken, weighed, gold


Cramer Remix: Bitcoin has taken away the luster of gold

Cramer Remix: Bitcoin has taken away the luster of gold

5 Hours Ago

Jim Cramer weighed in on how gold could be trumped by bitcoin in the market.


Company: cnbc, Activity: cnbc, Date: 2017-12-01
Keywords: news, games, cnbc, companies, away, gold5, trumped, market, cramer, hours, bitcoin, luster, remix, taken, weighed, gold


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Real Madrid adds luster to China’s wannabe ‘Orlando’ tourist hub

Spanish soccer club, Real Madrid, announced last week they would open an interactive “virtual reality” complex in Hengqin, in partnership with Hong Kong-listed developer, Lai Sun Group. The 12,000-square metre venue, set to open in 2021, will include virtual reality entertainment and a museum showcasing the club’s history. “Hengqin will be the Orlando of China. Macau is Las Vegas (and) Hong Kong is New York,” said Larry Leung, an executive with Lai Sun that is helping build the Real Madrid compl


Spanish soccer club, Real Madrid, announced last week they would open an interactive “virtual reality” complex in Hengqin, in partnership with Hong Kong-listed developer, Lai Sun Group. The 12,000-square metre venue, set to open in 2021, will include virtual reality entertainment and a museum showcasing the club’s history. “Hengqin will be the Orlando of China. Macau is Las Vegas (and) Hong Kong is New York,” said Larry Leung, an executive with Lai Sun that is helping build the Real Madrid compl
Real Madrid adds luster to China’s wannabe ‘Orlando’ tourist hub Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2017-09-17  Authors: mark ralston afp getty images
Keywords: news, games, cnbc, companies, macau, open, hong, real, virtual, reality, tourist, wannabe, madrid, orlando, luster, lai, kong, hengqin, chinas, adds, hub


Real Madrid adds luster to China's wannabe 'Orlando' tourist hub

Spanish soccer club, Real Madrid, announced last week they would open an interactive “virtual reality” complex in Hengqin, in partnership with Hong Kong-listed developer, Lai Sun Group.

The 12,000-square metre venue, set to open in 2021, will include virtual reality entertainment and a museum showcasing the club’s history.

The transformation of Hengqin, which is three times as large as Macau, is part of Beijing’s efforts to bolster links between Hong Kong, Macau and nine cities in the Pearl River Delta region, or so-called “Greater Bay Area,” modeled after other dynamic global bay areas such as Tokyo and San Francisco.

“Hengqin will be the Orlando of China. Macau is Las Vegas (and) Hong Kong is New York,” said Larry Leung, an executive with Lai Sun that is helping build the Real Madrid complex at its “Novotown” project in Hengqin. “Within an hour you can have them all.”

Novotown’s entertainment mix will also feature China’s first Lionsgate movie world with theme rides from blockbuster films such as the Hunger Games and Twilight, as well as a National Geographic educational center. And high-end hotel chains and luxury yacht makers are building more hotels and a marina on Hengqin.


Company: cnbc, Activity: cnbc, Date: 2017-09-17  Authors: mark ralston afp getty images
Keywords: news, games, cnbc, companies, macau, open, hong, real, virtual, reality, tourist, wannabe, madrid, orlando, luster, lai, kong, hengqin, chinas, adds, hub


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