China sees spike in tourism, hotel shares, airlines as some travel rules eased | Travel - Hindustan Times
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China sees spike in tourism, hotel shares, airlines as some travel rules eased

Bloomberg | | Posted by Zarafshan Shiraz
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

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.

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)
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)

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.

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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.

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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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