2024 China International Travel Mart kicks off in Shanghai, showcasing global tourism options

The 2024 China International Travel Mart (CITM) opened in Shanghai on Friday, promoting the growth of global tourism through novel experiences that embrace new technologies and old traditions.

With the theme "Nihao, China," this year's CITM, organized by China's Ministry of Culture and Tourism, is being held at the National Exhibition and Convention Center (Shanghai) from Friday to Sunday.

While a significant portion of the approximately 53,000 square meters of exhibition space is dedicated to China's domestic and cultural tourism, other areas of the floor entice visitors to explore exciting cultures across Asia and the world.

One of the most popular attractions at the exhibition is the Japanese pavilion, where visitors are treated to traditional performances rich with dance and music.

"The aim of participating in this year's CITM is to showcase the charm of various regions in Japan," said Hiroshi Yakumaru, executive director of the Shanghai office of Japan's National Tourism Organization.

Another highlight of this year's CITM is the VR exhibit, "Back to Sanxingdui – A Fantastic Journey to the Ancient Shu Kingdom", which invites visitors on a journey through ancient culture, seamlessly blending rich heritage with cutting-edge VR technology.

"We have around seven scenes, starting at the museum and taking visitors back to the ancient Shu civilization. After a series of explorations, they will return to the museum," said Bi Yanhao, Chief Technology Officer of Aicmeta.

The CITM is China's premier international travel exhibition and the largest of its kind in Asia. Starting from 2001, the event has alternated between Shanghai and Kunming, the provincial capital of southwest China's Yunnan Province, each year.

This year's event has attracted more than 1,000 international exhibitors from over 80 countries and regions, alongside nearly 600 overseas travel agencies, while over 600 business-to-business meetings are scheduled to be held during the event.

2024 China International Travel Mart kicks off in Shanghai, showcasing global tourism options

U.S. Federal Reserve (Fed) Chair Kevin Warsh said on Wednesday that "prices are too high" in the United States, reiterating the Fed's commitment to restoring price stability.

Speaking at the European Central Bank Forum on Central Banking in Sintra, Portugal, Warsh declined to say whether the Fed would raise interest rates at its July policy meeting. He said the central bank would "chart a new course" in conducting monetary policy, but gave no further details. He also stressed that the Fed would not provide forward guidance on future interest rate decisions.

Warsh said the Federal Reserve is establishing a number of task forces to review issues including monetary policy communications, economic data, productivity, inflation frameworks and balance sheet policy. He said reforms should be pursued if the current policy framework hinders effective policymaking.

U.S. Fed chair signals "new course" in monetary policy as prices remain "too high"