China clears way to restart MICE events
>> The Chinese State Council has updated policies around COVID-19, explicitly giving a go-ahead again to the MICE industry. The authorities state that preventional measures to combat the virus outbreak can move to a normal level, listing a number of sectors and regulations that are included in this guidance, dedicating a whole segment to public spaces, event spaces and events.
Hong Kong to propose revised bailout plan for Ocean Park
>> Sources say a HK$10.6 billion proposal tabled in January to revive the Ocean Park will not go ahead and officials will instead roll out a new plan. The resort missed out on about 1 million visitors between February and April as COVID-19 forced its closure.
Shanghai Disneyland tickets sell out within minutes
>> Shanghai Disneyland sold out of tickets for its May 11 reopening after a four-month shutdown, a sign that consumers in China are prepared to spend as the nation recovers from the coronavirus pandemic. The theme park is implementing safety measures, including limiting visitors to one-third of the normal capacity of 80,000.
Shanghai live-streams to boost tourism consumption
>> Shanghai's local authorities and travel companies have teamed up to launch live-streaming shows to boost post-epidemic tourism consumption. The city's culture and tourism administrations in 14 districts and travel agency Lvmama.com jointly launched a live stream show late Thursday. Each district showcased its most representative tourism attractions, intangible cultural heritage and food products, attracting over 2 million viewers.
Travel short video service provider raises millions of yuan
>> Jufeng Network, a travel short video service provider, announced that it has secured millions of yuan in a seed round of funding. The company wants to help tourist attractions, homestay businesses, hotels and itineracy providers build quality travel brands.
Chinese airlines are among top picks again
>> China’s biggest airlines have become among the top picks at some of the nation’s largest brokerages, after posting their worst quarter since the 2008 crisis. The stocks are due for a massive rebound after dipping below their book values, a level that historically marked a key turnaround in market prices.
Hong Kong's flag carrier eyes 'structural change'
>> Cathay Pacific is looking at “structural change” as it investigates how to downscale its business in the wake of the coronavirus pandemic. Hong Kong’s flag carrier is mulling scenarios that could reduce staff headcount, routes served and planes flown, as well as the possible consolidation of its airline brands, in drastic steps that would mirror those taken by rivals in recent weeks.
HNA fails to make payment on $4B Ingram Micro buyout loan
>> A unit of China’s HNA Group has failed to repay USD 750 million owed from its buyout four years ago of a US technology distributor, as the cash-strapped conglomerate’s credit problems continue to mount.
Self-driving trips popular in holiday
>> Self-driving trips have become an increasingly popular choice for Chinese during the past May holiday as they embraced the open air after a relaxation of travel restrictions amid the waning COVID-19 epidemic, a report showed. An earlier survey jointly carried out by the China Tourism Academy and Trip.com Group showed 41% of the respondents would choose to travel by car once the COVID-19 epidemic came to an end, while more than 90% of them would choose domestic tours.
