As China prepares for the Lunar New Year on Wednesday, millions will travel home to celebrate the biggest holiday with family. The authorities estimate that the Chinese will make nine billion trips during a 40-day holiday travel period starting on Jan. 14.
Much like the Christmas season in the West, the Chinese New Year is a time for holiday travels, shopping, and gifting. However, after two years of economic slowdown, the Chinese increasingly feel the restraint of their wallets.