she buys cosmetics, handbags and clothing from top brands through cross-border e-commer
ce platforms every month. Sometimes, she drives for one to two hours to neighboring bigger cities, such a
s Wuxi in Jiangsu, and Shanghai for shopping. She also plans two or three overseas trips every year.
“I don’t have any housing or car loans, and don’t have to worry about daily costs, as I live with my parents. I usually spend all my sa
lary on daily consumption and entertainment, which is quite common for people such as myself,” she said.
Jason Yu, managing director of Kantar Worldpanel, said small-to
wn youths look to the internet for the latest information, products and lifest
yles. The gap between young people in lower-tier cities and those in metropolises has narrowed greatly.
“Small-town youths now have broader horizons, are well informed, and some have even started to lead ‘avant-garde’ lifestyles,” he said.
and even a refrigerator sticker can be delicately made and worthy of being added to your personal collection,” said Zhou.
The success of creative products released by the Palace Museum in Beij
ing and Shanghai Disney Resort has set a good standard for local souvenirs, experts said.
Since 2015, users of the Palace Museum’s official app have received photos and info
rmation of one collection every day, bringing the collections and their fans closer.
As many as 480 styles of phone cases are created by the design tea
m of the Forbidden City. “We designed headphones with beads, and our foll
owers said this design let them feel like the emperor when making calls,” Shan Jixiang, former curator of the P
alace Museum who retired earlier in April, was quoted as saying by the Xinhua News Agency.
By the end of 2017, the Palace Museum released more than 10,000 products. It gen
erated 1.5 billion yuan ($223.8 million) in revenue from its creative products in 2017 alone.
or of the China Tourism Academy. “Compared to the United States, w
here 48 percent of its citizens hold a passport, the figure in China is only around 10 perce
nt. It’s estimated that the number of Chinese outbound travelers will reach 230 million in 2030.”
A report published by major Chinese travel agency Ctrip showed th
at 160 million Chinese people have travel plans during the upcoming four-day May Day hol
iday. Thailand, Japan, Vietnam, Taiwan and Indonesia are the top destinations outside the mainland.
Malaysia, which receives around 10 million Chinese tourists annually, began to i
ssue e-visas for Chinese in 2017. “The number of visa stickers on passports of Chinese na
tionals dropped by 70 percent in the first year after the service was introduced, showing its high popularity,” said Han.
Since last year, countries including Australia, New Zealand, Singapore, Turkey, Thailand and Sri Lanka have starte
d to accept visa application documents online and issue e-visas, either a bar code or QR code.
tribute to deleveraging, Hu said.
“The large-scale reduction of taxes and fees could efficiently reduce burdens on enterpris
es and strengthen their ability to repay debts and absorb equity financing,” she said.
Zhu Min, chair of the National Institute of Financial Research at Tsinghua University, sai
d it is clear that China will “move more on fiscal policy than monetary policy” to offset short-term economic challenges.
This year’s tax and fee cut on enterprises－worth nearly 2 trillion yuan ($297.8 billion)－is “really encouraging”, which will
improve their productivity and efficiency, said Zhu, a former deputy managing director of the International Monetary Fund.
The debt level, especially for State-owned enterprises, is still high, Zhu said, making i
t necessary to continue deleveraging to contain risks and achieve sustainable growth.