[For Hong Kong Investors Only] China's recent Labor Day holiday brought encouraging news for the economy. The surge in overall spending surpassed pre-pandemic levels and served as a testament to a recovery underway. Travelers embarked on 295 million trips within the Chinese mainland, marking a 7.6% year-on-year increase and a striking 28.2% jump from 2019. While per capita spending remained lackluster due to the country's uneven economic recovery, amidst this backdrop lies a potential growth opportunity waiting to be harnessed. With a total expenditure of nearly 166.9 billion yuan ($23.5 billion), up 12.7% from the previous year and 13.5% higher than 2019, the holiday demonstrated the potential for further development. Consider investing in the Global X China Consumer Brand ETF (2806)