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China sees spike in tourism, hotel shares, airlines as some travel rules eased

Updated on Jun 30, 2022 02:15 PM IST
Shares of hotel operators, airlines and airport operators climb in China after tourism industry ministry scrapped putting an asterisk on people’s travel-history cards if their records in the previous 14 days included cities designated as medium or high Covid-risk areas
A visitor wearing a face mask poses at the Shanghai Disney Resort, as the Shanghai Disneyland theme park reopens after being shut for the coronavirus disease (Covid-19) outbreak, in Shanghai, China June 30, 2022.  (REUTERS/Aly Song)
Bloomberg | | Posted by Zarafshan Shiraz

China’s travel-related stocks rallied after the government on Wednesday announced easing of some domestic travel rules, raising prospects for the country’s economic reopening.

Shares of hotel operators, airlines and airport operators climbed after industry ministry scrapped putting an asterisk on people’s travel-history cards if their records in the previous 14 days included cities designated as medium or high Covid-risk areas. Some local governments imposed curbs on visitors with the asterisk.

Huatian Hotel Group Co. rose as much as 10% with UTour Group Co. up 6.6% and China Tourism Group Duty Free Corp. rising 4.1%. Shanghai International Airport Co. was also up 3.2% and China Eastern Airlines Corp. rose 3%.

China also earlier this week reduced quarantine times for inbound travellers by half, the biggest shift yet in its Covid-Zero policy.

This story has been published from a wire agency feed without modifications to the text. Only the headline has been changed.
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