- Title: CHINA: Chinese prepare for the Year of the Tiger
- Date: 9th February 2010
- Summary: BOY LOOKING AT FIREWORKS AND TALKING SALESMAN SPEAKING TO CUSTOMERS
- Embargoed: 24th February 2010 12:00
- Keywords:
- Location: China
- Country: China
- Topics: Economic News,Light / Amusing / Unusual / Quirky
- Reuters ID: LVA2YUSPUFZKK6E1R6LV6SKFX6PQ
- Story Text: China is preparing to usher in the Year of the Tiger as its economy continues it's double-digit growth while the rest of the world bounces back from the global financial crisis.
Across the country, the festive mood is high as citizens are set to celebrate China's most important holiday, the Lunar New Year.
Experts forecast that the country's growth domestic product (GDP) is expected to expand around 10 percent in 2010, driven by investment and domestic consumption.
In Shanghai, masses of the city's migrant workers are counting down to the week-long holiday which starts on Sunday (February 14) as they look forward to going back to their rural hometowns to reunite with their families.
A construction boom has engulfed the city as Shanghai prepares to host the World Expo 2010 in May, and millions of migrant workers have been employed in various building projects across the city.
Workers said the mood for the holiday this year is better compared to last year when the country was reeling from the effects of the global economic crisis.
"This year is better than last year. Last year, jobs were hard to find, but it is much easier this year. Because there was the economic crisis last year, there were fewer jobs in the market. But it has become better this year. Jobs were still hard to find in the first half of last year but in the second half, we could see an improvement," said construction worker Chen Yong, who is in his thirties.
This year marks the Year of the Tiger on the Chinese zodiac, in its traditional lunar calendar cycle of talismanic animals.
For many of China's millions of workers and students, the holiday, also known as the "Spring Festival holiday", may be the only opportunity in the year to see parents, siblings and children back home.
"I am very happy since I am going home for the Spring Festival. I have been away for a year so I have to go home and see my parents," said 22-year-old construction worker, Xu Xue (pron: she-sheeay).
China felt the effects of the global economic crisis from 2008 to 2009 as the country's export-driven economy slowed due to falling demand overseas.
But an enormous domestic stimulus measures, along with a slow world wide recovery, has helped the country weather the worst of the crisis better than most.
Recent trade figures have also provided fresh evidence of the vigour of the Chinese economy.
The recovery has been good news to these migrant workers who had to endure the full impact of the downturn, with companies closing down and laying off workers at the height of the crisis.
"The economy has recovered this year and my factory had reinstated many kinds of benefits for us. So it has been better than last year," said 23-year-old factory worker Ge Shijing (pron: ger-shee-jing).
And their optimism is seemingly set to last as the Center for Forecasting Science at the Chinese Academy of Sciences said in a report issued over the weekend that first quarter growth is expect to reach 11 percent. It added growth in the third and fourth quarters will be 9.5 percent and 9.8 percent respectively.
For now, a better economic mood has ensured happier times for the Chinese looking to celebrate the Lunar New Year.
An estimated 200 million people are set to trek across China using public transportation such as trains, buses and airplanes to get back to their hometowns in time for the holiday.
China's Ministry of Railways has estimated that the number of people travelling over the 40-day Spring Festival season would be almost 10 percent greater than last year.
In the capital Beijing, fireworks were sold quickly as residents buy prepare a week ahead of the holidays.
The Chinese regularly set off fireworks and firecrackers, which they believe can scare off evil spirits, to celebrate traditional festive holidays.
"A new year is coming, so it's out with the old and in with the new. We want to get all the suffering and pressure of the last year off our chests, to release all that pressure. It is a way of getting it out of our system," said 39-year-old mother Meng Yue (pron: meng-yooer).
But that is just the beginning of the festive-spending: shopping, tiger decorations and celebratory meals all serve to welcome in the Year of the Tiger. - Copyright Holder: REUTERS
- Copyright Notice: (c) Copyright Thomson Reuters 2011. Open For Restrictions - http://about.reuters.com/fulllegal.asp
- Usage Terms/Restrictions: Footage contains identifiable children: users must ensure that they comply with local laws and regulations governing the publishing of this material.