Business Brief (April 7): China’s Qingming Holiday Travel Rises 6%
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Qingming holiday travel
An estimated 845.4 million cross-regional trips were made in China during the three-day Qingming Festival holiday from April 4 to 6. This represents a 6% increase from the same holiday period last year.
Consumer goods trade-in
A national teleconference on the consumer goods trade-in program stressed the need to accelerate data sharing between central and local government platforms. The meeting called for improving the efficiency of subsidy reviews and disbursements, optimizing consumer experience, and cracking down on subsidy fraud to ensure funds are used effectively.
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- China's Qingming holiday (Apr 4-6): 845.4M cross-regional trips, +6% YoY.
- Consumer goods trade-in: accelerate data sharing, subsidy efficiency, anti-fraud measures.
- Food platforms self-inspect by June 1; March NEV sales 784K units, -21% YoY; US repatriates drug fugitive to China.
- Meituan
- Meituan, along with Taobao and JD.com, was required by the State Administration for Market Regulation to conduct comprehensive self-inspections on April 2 to ensure full compliance with new food delivery regulations by June 1.
- Taobao
- Taobao is one of the food delivery platforms, including Meituan and JD.com, required by China's State Administration for Market Regulation to conduct comprehensive self-inspections for full compliance by June 1.
- JD.com
- The State Administration for Market Regulation required JD.com, along with Meituan and Taobao, to conduct comprehensive self-inspections on food delivery platforms to ensure full compliance by June 1, when new regulations take effect.
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