China expects 2.2 million daily cross-border trips during Dragon Boat Festival holiday

Border checkpoints across China are bracing for a travel rush during the upcoming Dragon Boat Festival holiday, with holidaymakers and family visits contributing to an estimated 2.2 million crossings per day.

The National Immigration Administration has projected an 11.7 percent year-on-year increase in border entries and exits for the three-day holiday that kicked off on Friday.

Land ports near Hong Kong and Macao are expected to see some of the heaviest traffic, due to a surge in travel demand and increasingly streamlined crossing procedures.

This year, the public holidays on the mainland and Hong Kong fall exactly at the same time. Both Shenzhen and Hong Kong have unveiled a lineup of cultural events and tourist activities, while the conclusion of the college entrance exams earlier this month has added extra steam, with many families seizing the chance to head out for a well-earned getaway.

The Shenzhen General Station of Exit and Entry Frontier Inspection forecasts that daily crossings will hit 1.05 million between Friday and Sunday, with the peak landing on Friday, when numbers could surpass 1.08 million.

Travel platforms are reporting a surge in holiday bookings. In the past week alone, reservations for inter-provincial flight and hotel packages jumped more than 90 percent from the previous week.

Events such as dragon boat culture festivals and night carnivals are set to keep the festive spirit alive throughout the break. Major shopping districts are also rolling out holiday promotions, luring Hong Kong residents northward for leisure and retail experiences.

"We expect inbound passenger peaks on Thursday evening and Friday morning, while outbound traffic is likely to peak on Sunday afternoon and evening," said Zhou Yin, deputy director of the frontier inspection division at the Shenzhen General Station.

The weekend of June 13 and 14, right after the college entrance exams, already saw a notable spike in cross-border travel through Zhuhai's ports to Hong Kong and Macao, driven largely by graduating students and family trips.

For the Dragon Boat Festival holiday, the Zhuhai General Station projects total passenger flow will reach 2.16 million, a year-on-year increase of more than 10 percent. Daily crossings at major gateways including Gongbei, the Hong Kong-Zhuhai-Macao Bridge, and Hengqin are expected to top 720,000.

"I just finished my college entrance exams and now I'm out traveling. This is my first time crossing through Gongbei. It's also my first visit to Macao. It all feels so exciting," said a visitor from the mainland.

"We're planning to head to Hengqin for the holiday, just to stroll around the malls with family. The co-location clearance system makes crossing easier. You just place your ID on the reader, scan your fingerprint, and you're through in seconds," said a traveler from Macao.

This Sunday will see four concerts and one sporting event packed into a single day in Macao, and authorities expect a surge of inbound travelers at the Hengqin port after 22:00 that evening. Ports across the Greater Bay Area have already opened additional inspection lanes to cut waiting times, ensuring smooth and secure passage for the millions of travelers making their way across the border.

China expects 2.2 million daily cross-border trips during Dragon Boat Festival holiday

Japan's reliance on U.S. economic policy is allowing foreign funds to acquire Japanese assets at bargain prices, according to Japanese economist Kazuhide Uekusa.

He warned that the government's economic and defense strategies prioritize foreign capital and political profits over public welfare, failing to bring true prosperity to ordinary citizens.

The Bank of Japan (BOJ) on Friday raised its policy interest rate by 0.25 percentage points to 1.25 percent, the highest in about 31 years, following a two-day board meeting.

According to Uekusa, the timing of the shift aligns perfectly with the interests of large American funds.

"The Takaichi Cabinet has been reluctant to raise interest rates, thus allowing the yen to continue to depreciate. I think this is actually equivalent to helping foreign capital purchase Japanese assets at a low price. However, U.S. Treasury Secretary Scott Bessent has recently made a clear adjustment to the policy direction of the U.S. dollar against the Japanese yen, promoting the appreciation of the Japanese yen. The reason is that some large funds in the United States have basically completed their investment layout in Japanese assets," said Uekusa.

Uekusa also said Japan cannot attempt to revitalize its economy by expanding military spending and supporting the defense industry, and such a military buildup strategy is unlikely to bring about true prosperity and stability.

"I think it is true that the Japanese economy has been stagnant for a long time. However, to expand military spending in an attempt to revitalize the economy is, in my opinion, an extremely foolish and even crazy move. To achieve peace and stability in Japan, the foundation should be to establish friendly relations with neighboring countries rather than military expansion. The reason why the Japanese government attaches so much importance to the military industry is that it can generate huge profits, and a part of these profits may flow back to political parties or political figures through various means. I don't think this is at all for the benefit of the people," he said.

Japanese economist criticizes gov't policies for enabling cheap asset sales to foreign funds