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China's Eight-Day Holiday Travel Surges as Platforms Fuel Long Trips, Housing Market Stalls

Holiday leisure demand diverted attention from homebuying, revealing steep transaction drops with a few cities showing tentative resilience.

Overview

  • Official data recorded about 888 million domestic trips and roughly CNY 809.0 billion in tourism spending, with retail categories such as mobile devices up 18.8% and autos up 12.6%.
  • The Transport Ministry estimated around 1.25 billion cross‑region person‑trips in the first four days of the break, exceeding last year’s pace.
  • Ctrip and Meituan reported a tilt toward longer, deeper itineraries and strong order growth, with travel activity extending into the days after the holiday.
  • CRIC reported that new‑home contracted area across 22 tracked cities fell about 33% year on year and 38% from the prior period during the holiday.
  • Resale activity weakened further, with eight monitored cities down 55% year on year, while performance diverged by location as Chengdu and Hangzhou stayed relatively firm and Guangzhou, Wuhan, and Zhengzhou showed mild repair.