China’s Services Trade Grows 8.2% in First Four Months, Travel Sector Leads Gains
China’s services trade maintained solid growth in the first four months of 2025, with total services imports and exports reaching CNY 26,320.6 billion (approximately USD 3.64 trillion), an 8.2% year-on-year increase, according to official data.
From January to April:
- Services exports totaled CNY 11,285.2 billion (approximately USD 1.56 trillion), up 14.6%.
- Services imports reached CNY 15,035.4 billion (approximately USD 2.08 trillion), up 3.9%.
Travel services remained the largest segment of China’s services trade, with total trade in travel services amounting to CNY 7,567.8 billion (approximately USD 1.05 trillion), an increase of 14.7% year-on-year.
- Inbound tourism soared 79.9%, reaching CNY 2,925.8 billion (approximately USD 405 billion).
- Outbound tourism rose 7.8%, totaling CNY 4,642.0 billion (approximately USD 642 billion).
The continued strength in travel services highlights robust consumer demand and future potential.
https://www.gov.cn/zhengce/jiedu/tujie/202506/content_7026792.htm
Dragon Boat Festival Travel Surges, Dragon Boat Race Tourism Doubles
During this year’s Dragon Boat Festival holiday (May 31 to June 2), China’s domestic tourism continued its upward trend, supported by strong demand for short-haul trips and family outings. According to estimates from the Ministry of Culture and Tourism, the country recorded 110 million domestic tourist trips, up 6.3% year-on-year, with total tourism spending reaching RMB 40.35 billion (USD 5.57 billion), an 8.1% increase.
Transportation data highlighted continued momentum:
- Railway passenger volume: 48.03 million trips, averaging 16.01 million daily (+4.3% YoY)
- Waterway passenger volume: 2.73 million trips, averaging 910,000 daily (-6.8% YoY)
- Civil aviation passenger volume: 5.63 million trips, averaging 1.88 million daily (+1.7% YoY)
Didi Chuxing reported that the overlap of Dragon Boat Festival and Children’s Day (June 1) led to a 31% surge in holiday ride-hailing demand, with peak periods seeing over 100,000 ride requests per minute. Short self-driving trips and family-oriented outings were key drivers.
Tourism interest in dragon boat race destinations also spiked. As of June 2, bookings for popular race locations such as Foshan, Miluo, and Jiaxing more than doubled year-on-year:
- Foshan (Guangdong), host of the Diejiao Dragon Boat Drifting Race, saw a 250% YoY increase in car rental bookings (Ctrip data).
- Yueyang (Hunan), site of the 2024 China Miluo River Dragon Boat Super League, experienced a 52% YoY rise in holiday tourism orders.
- Xuancheng (Anhui), host of the 11th China Taohuatan Dragon Boat Race, saw a 32% YoY increase in holiday tourism orders.
The data underscores the vitality of local tourism demand and growing cultural tourism trends in China’s post-pandemic recovery, as domestic travelers increasingly seek experiential, festive, and family-friendly travel options.
Data Source: https://www.gov.cn/lianbo/bumen/202406/content_6956584.htm
https://www.gov.cn/yaowen/shipin/202506/content_7026172.htm
https://data.people.com.cn/rmrb/20250604/10/4d9c8ef3e3564da7a5d1d36030836466
China Surpasses U.S. in Global Favorability for First Time, Morning Consult Finds
China’s global favorability has overtaken that of the United States for the first time since tracking began, according to a new survey by Morning Consult, as reported exclusively by Axios on June 2. According to Politico, China has surpassed the U.S. in popularity in all regions except Europe.
As of the end of May, China posted a net favorability rating of +8.8, while the U.S. fell to -1.5. Net favorability measures the share of respondents holding a positive view of a country minus those with a negative one.
Jason McMann, Morning Consult’s Director of Political Intelligence, stated in the report that this marked a historic first: “China’s global standing has now surpassed that of the United States.” The survey covered views in key U.S. allies, including Canada, France, Japan, and the UK.
Axios noted the result as “a clear blow to America’s soft power.” The data shows that since January 2025, most countries surveyed have seen declining perceptions of the U.S. and improving views of China. Much of China’s gains have occurred since March—accelerating notably after Trump’s “Liberation Day” tariff announcements.
While U.S. favorability saw a slight rebound after the recent agreement to ease tariffs earlier in May, the fragile improvement may now be at risk.
Pop Mart’s Founder Now Worth $20.3B as Labubu Craze Drives Stock Surge
Pop Mart founder Wang Ning has seen his net worth soar to approximately USD 20.3 billion, according to Forbes Real-Time Billionaires List (as of June 8), as demand for Labubu collectible figures continues to skyrocket.
Driven by viral demand—with some limited-edition or co-branded Labubu pieces now fetching thousands to tens of thousands of USD on secondary markets—Pop Mart’s share price has surged. The company closed on June 6 with a market cap of approximately USD 42.15 billion.
Wang Ning holds a 48.73% stake, now valued at approximately USD 20.07 billion.
This surge reflects a broader trend: IP-driven consumer brands are becoming major value creators in China’s evolving retail landscape. Pop Mart’s ability to build a global, fan-driven collectible ecosystem is paying off—and attracting new investor interest.
The Labubu phenomenon is also a case study in how community + scarcity + emotional engagement can drive both brand value and market cap—lessons many global consumer brands are watching closely.
Peking University Math Genius Wei Dongyi Goes Viral After Launching Personal Video Account
Wei Dongyi, the famed Peking University mathematics researcher affectionately known online as “Wei Shen” (“God Wei”), has once again captured public attention—this time by quietly launching his first personal account on a popular short-video platform.
On June 6, netizens discovered the new account under the verified username “韦东奕” (Wei Dongyi), which featured a single, four-second clip. In the video, Wei simply greets viewers: “Hello everyone, my name is Wei Dongyi. This is my account.” The account bio confirmed it as his official personal account.
Wei first rose to national fame in 2021 when a viral video showed him modestly wishing success to gaokao (college entrance exam) candidates, clutching a bottle of mineral water and two steamed buns—a humble image that contrasted with his status as a mathematics prodigy.
Wei currently serves as a researcher at the Differential Equations Teaching and Research Section of Peking University’s School of Mathematical Sciences, where he earned both his bachelor’s degree (2014) and PhD (2018). He also conducted postdoctoral research at the Beijing International Center for Mathematical Research and has been an assistant professor since December 2019.
According to Chengdu.cn, Wei’s cousin confirmed the authenticity of the account, noting it was set up with the help of family members. The platform will be used to share math-related content and foster more public interaction with Wei.
The response has been overwhelming. In just three days, Wei’s account surpassed 20 million followers. The comment section has been flooded with messages from students and parents, many offering wishes and seeking good luck for the ongoing gaokao, hoping for top scores and university admissions.
Wei’s understated entry into the world of social media underscores both his enduring popularity and the deep public affection for his talent and humility—while opening a new digital chapter in his already remarkable academic journey.