China’s service sector recovery takes another hit as new coronavirus outbreaks cast pall over Lunar New Year consumption, travel

Jan 29, 2021 | INVESTING

The Lunar New Year holiday, popularly known in China as the Spring Festival, traditionally results in hundreds of millions of workers in big cites returning to their hometowns, spending large sums of money on food, gifts and travel.But a resurgence of new coronavirus infections in several cities has resulted in renewed restrictions on movement, and this looks to have a negative impact on annual consumption – particularly putting a dent in the recovery of the country’s service sector.Normally,…

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