Travel restrictions to Hong Kong lifted, Hisense leads the world, service sector into expansion zone

All travel restrictions will be lifted between Hong Kong and mainland China from February 6, and COVID testing requirements will be abolished for travelers from the mainland to Hong Kong as well as Macao. After the announcement, travel agency Tongcheng Travel 同程旅行 reported a 371% rise in searches on its platform for travel to Hong Kong, and 324% for travel to Macao.

Hisense is leading the world for TV sales with 2.32 million units in December, surpassing Samsung’s 2.10 million units, although for the whole year of 2022 Hisense was in second place after Samsung. Global TV sales are shrinking: In 2022 the total was around 202 million units, a year-on-year decrease of 3.9% and the lowest number in a decade.

China’s services sector expanded for the first time in 5 months, with the China Caixin Services Purchasing Managers’ Index (PMI) for January up to 52.9 from 48 in December. The termination of COVID zero in December has increased demand for services such as travel, accommodation, catering, and delivery.