Red Ponzi’s Lunar New Year’s Spend-A-Thon May Be Cut By 50%

Restaurants and retailers recorded sales of more than 1 trillion yuan in the seven days of the 2019 Lunar New Year’s holiday. Just half of that total is expected for the 2020 holiday, estimated Ren Zeping, chief economist and director of the Evergrande Think Tank.

https://www.caixinglobal.com/2020-02-01/coronavirus-costs-chinas-service-sector-144-billion-in-a-week-101510043.html