Travel

Civil aviation in China experienced over a 50% decrease year-on-year in traffic during April, while travel on roads increased by 21.9% year-on-year.

The board of online classifieds marketplace 58.com plans to evaluate the proposed transaction.

The firm provides services to companies such as Tencent, Zhihu, and BYD.

Many travel and hospitality trade associations have asked the government for respite in taxes and a support fund.

The China e-commerce giant is said to have devoted at least USD 800 million in sponsorship for the Olympic Games.

Trip.com has dealt with USD 4.43 billion worth of order cancellations due to the coronavirus outbreak.

China’s largest aggregator, Trip.com, forecasted its revenues to drop 45% to 50% YoY in the first quarter of 2020.

The coronavirus outbreak has impacted almost every aspect of the economy, including big and small businesses.