The Water-Splashing Festival in southwest China's Yunnan Province has drawn visitors from across the country and beyond, fueling a significant surge in tourism revenue for the region.
The festival, marking the New Year for the Dai people, originated as a spiritual ritual to bring blessings and wash away misfortune. Over time, it has transformed into a major attraction, drawing travelers from across China and beyond.
Celebrations began on Sunday, drawing locals and tourists into the centuries-old traditions of the Dai ethnic group.
On Tuesday, a grand annual water-splashing carnival took place in Jinghong of Yunnan's Xishuangbanna Dai Autonomous Prefecture, with water flying through the air and laughter echoing through the streets.
Armed with basins, water bags, and water guns, revelers turned the streets into a playful battleground of goodwill, and even police officers are not exempted.
"I come from Taitung of Taiwan Province. I'm having such a fun time here. I wish I could come everyday. This is awesome," said Wu, a tourist.
"I'm from Liangshan in Sichuan. Today has been a lot of fun! You could come visit us in July during the Torch Festival, and you can actually play with fire," said Ziluo, another tourist.
The festival is also celebrated in some Southeast Asian countries, where it's widely known as Songkran.
Renowned for its tropical landscapes and rich ethnic culture, Xishuangbanna is a top travel destination, and the festival is giving a strong boost to the local tourism sector.
"Overall the tourist volume has significantly increased from previous years. According to our preliminary estimates, between April 11 and 14, tourist visits reached 1.6 million, generating approximately 1.658 billion yuan in total consumption," said Sui Jianfei, head of the Jinghong Cultural and Tourism Bureau.
The local government hopes to elevate the city's profile through the event, aiming to leverage the visa-free transit policy to attract more visitors to Xishuangbanna.
Water-splashing Festival in Yunnan sparks tourism boom
U.S. stocks finished slightly higher on Monday, staging a late-session recovery as investors navigated a volatile landscape marked by a criminal probe into the Federal Reserve leadership.
The Dow Jones Industrial Average rose 86.13 points, or 0.17 percent, to 49,590.2. The S&P 500 added 10.99 points, or 0.16 percent, to 6,977.27. The Nasdaq Composite Index increased by 62.56 points, or 0.26 percent, to 23,733.9. Despite the positive close, the market experienced significant intraday turbulence, with the Dow dropping nearly 500 points at its session lows.
Nine of the 11 primary S&P 500 sectors ended in positive territory. Consumer staples and industrials led the gainers, rising 1.42 percent and 0.75 percent, respectively. Financials and energy were the primary laggards, declining 0.8 percent and 0.66 percent.
Market sentiment was initially shaken by an announcement on Sunday from Fed Chair Jerome Powell, who confirmed that federal prosecutors are investigating him over the Fed's multi-billion-dollar project to renovate its headquarters. Powell characterized the probe as an attempt by the Trump administration to compromise the Fed's independence.
Further weighing on the financial sector was a proposal by U.S. President Donald Trump to cap credit card interest rates at 10 percent for one year, which triggered a sell-off in banking stocks amid concerns over restricted lending and reduced profitability. Capital One shares plummeted 6.42 percent, while Citigroup, JPMorgan and Bank of America also recorded losses.
In contrast, retail giant Walmart led the Dow's advance, climbing 3 percent following news of its upcoming inclusion in the Nasdaq 100 index. The company also announced a strategic partnership with Google's Gemini AI to enhance the digital shopping experience.
Investors are awaiting Tuesday's release of the U.S. consumer price index for December 2025. Following last week's cooling labor market data, market participants increasingly expect the Fed to maintain interest rates at their current levels during the upcoming January meeting.
U.S. stocks close higher amid criminal probe into Fed chair Powell
