Lates News

Citigroup published a research report stating that new documents released by the Ministry of Commerce and other departments mentioned attracting more inbound tourists and optimizing student holiday arrangements. The latter suggested exploring the implementation of spring and autumn breaks for primary and secondary schools, and shortening the length of summer and winter vacations. If the policy is implemented, it could significantly increase long-term family travel. In addition, this year's National Day Golden Week holiday will last for 8 days, one day longer than last year, and the bank expects strong demand for travel during this period, benefiting long-haul and outbound travel. China Railway Group predicts that during the 12-day railway transportation period, the number of passengers will reach 219 million, with an average of 18.25 million per day; compared to the same period last year with 10 days of transportation, the number of passengers was 177 million, with an average of 17.7 million per day. Citigroup maintains a "Buy" rating for Ctrip and Tongcheng, with target prices of $85 and HK$28 respectively.