Energy News  
Economic gloom dampens China's Lunar New Year celebrations

by Staff Writers
Beijing (AFP) Jan 25, 2009
Tens of millions of people across China prepared to usher in the Lunar New Year Sunday with fireworks and big family reunions, but the global economic crisis put a dampener on celebrations.

Railways and planes worked full tilt over the weekend as people made last minute dashes home to welcome the Year of the Ox, which begins on Monday.

A record 188 million people were expected to travel by train and another 24 million to fly over the 40 days before and after the New Year, in what is regarded as the biggest annual movement of people in the world.

And while bad weather failed to disrupt the transport network like it did last year in China, the global economic crisis put a dampener on celebrations.

In a New Year speech, China's Premier Wen Jiabao warned of challenges in the year ahead, the official People's Daily newspaper reported Sunday, as the global economic crisis continued to impact the country.

"Taking a broad view of the situation abroad and domestically, challenges and opportunities exist," the newspaper quoted Wen as saying, and he reiterated the importance of economic policies such as increasing domestic consumption.

In Beijing's Ditan Park, which like many across the nation opened up Sunday for a fair where people came to buy festive treats, there were signs the crisis had taken its toll.

A multitude of red lanterns hung over alleys as thousands of visitors enjoyed the first day of the fair, but for pinwheel seller Zhu Sibai, business was slow.

Zhu, who lives in the poor, eastern province of Anhui, had travelled up to Beijing to sell his wares during the week-long fair -- a trip he had taken annually for five years.

"Last year, on the first morning like this one, I sold 1,000-yuan (145 dollars) worth of pinwheels but this morning, I've only sold 10-yuan worth," Zhu said.

Zhu was not the only worker preparing to usher in the Lunar New Year with a sense of gloom.

Around six million migrant workers had already returned to their rural homes around the country after losing their jobs due to the financial crisis, Ma Jiantang, head of the National Bureau of Statistics, indicated on Thursday.

According to Ma, around a quarter of the nation's 120 million workers had gone home.

Of these, 20 percent -- around six million -- had done so because the plant where they worked had closed down or halted production.

The retail and hospitality sectors were also expected to suffer during the holiday, as consumers tried to save money due to concerns over the economy and the number of Chinese New Year bonus payments fell.

By Sunday evening, however, families were expected to push economic woes to the back of their minds as they sat down to eat meals of dumplings, fish and meat, let off fireworks, and give out red envelopes containing money.

In Beijing, 93 roads were to close for half an hour on Sunday evening to allow residents to let off firecrackers.

Share This Article With Planet Earth
del.icio.usdel.icio.us DiggDigg RedditReddit
YahooMyWebYahooMyWeb GoogleGoogle FacebookFacebook



Related Links
The Economy



Memory Foam Mattress Review
Newsletters :: SpaceDaily :: SpaceWar :: TerraDaily :: Energy Daily
XML Feeds :: Space News :: Earth News :: War News :: Solar Energy News


Obama's tough yuan stance unlikely to sway China
Shanghai (AFP) Jan 25, 2009
US President Barack Obama's administration has branded China a currency manipulator but America's tougher stand is unlikely to push the Asian giant to revalue the yuan, analysts said.







  • Obama's green agenda could lead world not only US: groups
  • Analysis: Green power reps cheer stimulus
  • Analysis: Turkmen pipeline security
  • Analysis: Venezuela to cut oil exports

  • Siemens planning to give up stake in Areva: source
  • Siemens planning to give up stake in Areva: source
  • Bulgaria presses EU on re-opening of nuclear reactors
  • Slovakia cancels decision to relaunch nuclear reactor: minister

  • Does Global Warming Lead To A Change In Upper Atmospheric Transport
  • Greenhouse gas emissions study released
  • Research Into Fair-Weather Clouds Important In Climate Predictions
  • ESA Tests Laser To Measure Atmospheric Carbon Dioxide

  • Wood worth more than money at Mexican market
  • Philippines orders South Korean firm to design hotel around trees
  • Experts plead to save tropical forests in peril
  • Scam artists sell 'forest' lands in barren northern China

  • China milk verdicts show govt fixing safety woes: state media
  • Two sentenced to death over China milk scandal
  • Liberian insect plague devastates farms
  • Liberia caterpillar invasion a national emergency

  • Over 91,000 killed in China in accidents in 2008: report
  • Ford starts making Fiesta in China
  • China 2008 auto sales growth slows to eight percent: state media
  • Recession got you down? Buy a hybrid

  • New Turbines Can Cut Fuel Consumption For Business Jets
  • Air China expects to post 'significant loss' for 2008
  • Nations demand climate plan from air, maritime industries
  • Cathay defers completion of new cargo terminal due to downturn

  • Nuclear Power In Space - Part 2
  • Outside View: Nuclear future in space
  • Nuclear Power In Space

  • The content herein, unless otherwise known to be public domain, are Copyright 1995-2007 - SpaceDaily.AFP and UPI Wire Stories are copyright Agence France-Presse and United Press International. ESA Portal Reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. Advertising does not imply endorsement,agreement or approval of any opinions, statements or information provided by SpaceDaily on any Web page published or hosted by SpaceDaily. Privacy Statement