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Shares of Chinese highway and railway companies rally, with Guangshen Railway surging more than 9.5%, Sichuan Expressway up 6.8%, Beijing-Shanghai High-Speed Railway and Shandong Hi-Speed up more than 4.5%.
China recorded 270.2 million passenger trips during the May Day holiday, an average of 54.04 million per day, rising by 162.9% from a year earlier, according to the Ministry of Transport.
In breakdown, railway passenger trips reached 90.88 million, an average of 18.18 million per day, soaring 464.4% from a year earlier; road passenger trips reached 163.1 million, an average of 32.62 million per day, surging 99.1%; waterway passenger trips at 6.8 million, an average of 1.36 million per day, rising by 114.2%; air passenger trips reached 9.42 million, an average of 1.88 million per day, soaring 507.5%, showed the data.
Meanwhile, shares of Chinese tourism and catering companies are tumbling, with an index tracking the sector compiled by Wind Information slumping nearly 5%, making it the worst-performing sector in the A-shares market.
Lijiang Yulong Tourism plunged by the daily limit of 10% at one point, Xi’an Qujiang Cultural Tourism down more than 9%, Tibet Tourism down more than 8%, Yunnan Tourism sliding more than 7%.
The total revenue from domestic tourism sector during the May Day holiday reached 148.06 billion yuan, a year-on-year increase of 128.90%, but only rising by 0.66% from the same period in 2019.
