An almost empty railway station ahead of Lunar New Year celebrations in Beijing, China, February 10 2021. REUTERS/THOMAS PETER
With local governments encouraging workers not to travel following a resurgence of Covid-19 cases in the north, transport use is already down by 76% compared to pre-pandemic levels and many workers have decided to stay on the factory floor and earn some extra money instead. This year, officials expect about 1.2-billion trips to be made by road, rail, air and ship in the world’s largest annual migration, a drop of more than 20% from 2020.
Overall growth is likely to slow as people spend less on transport, meals out and presents. China’s economic output is likely to shrink 0.5% in the first quarter of 2021 from the previous quarter, with services slowing the most, estimates Hao Zhou, senior emerging markets economist at Commerzbank. City officials have offered workers free sightseeing passes for local tourist spots to help make up for not going home, said Zhi.
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