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2025-09-17 10:42:15
Citigroup: Expects Strong National Day Golden Week Travel Demand, Maintains "Buy" Ratings on Ctrip and Tongcheng. Citigroup published a research report citing new documents released by the Ministry of Commerce and other government departments, highlighting efforts to attract more inbound tourists and optimize student holiday arrangements. The latter proposed exploring the implementation of spring and autumn breaks for primary and secondary schools, as well as shortening winter and summer vacations. If implemented, these policies could significantly increase long-distance family travel. Furthermore, this year's National Day Golden Week holiday spans eight days, one day longer than last year. The bank anticipates strong travel demand during this period, with long-haul and outbound travel particularly benefiting. The China Railway Corporation predicts that 219 million passengers will travel during the 12-day rail period, an average of 18.25 million per day. This compares to 177 million passengers and 17.7 million per day during the same period last year, which lasted 10 days. Citigroup maintains its "Buy" ratings on Ctrip and Tongcheng, with target prices of US$85 and HK$28, respectively.
