Economics
The Future of China's Growth Glimpsed in Historic Town's Revamp
- New targeted stimulus approach is permanent, says Citigroup
- First-quarter GDP growth seen slowing to 6.3 percent: survey
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A $300 million plan to turn a country town famous for fine porcelain into a major tourist destination gives clues as to how China’s new approach to stimulus works in reality.
Shenhou in central Henan province, home to the delicately-colored jun pottery since the Song dynasty about 1,000 years ago, began work in 2016 restoring its main street. The investment is starting to pay off: During February’s week-long Lunar New Year holiday, Shenhou saw a quarter of a million visitors, boosting tourism revenue 90 percent from a year earlier.