Lunar New Year mass migration

Please note: This item is from our archives and was published in 2019. It is provided for historical reference. The content may be out of date and links may no longer function.

Luggage sits in the Shenyang North railway station in Liaoning province in northeastern China as families, workers, and students travel for the Lunar New Year in 2018.

Luggage sits in the Shenyang North railway station in Liaoning province in northeastern China as families, workers, and students travel for the Lunar New Year in 2018.

Every year, a great migration of workers and students from megalopolises to smaller cities and towns announces the beginning of the Lunar New Year in China. This year, the travel rush begins one to two weeks before 5 February and lasts for about 40 days. Last year, 732 million trips were made by road, rail, air, and water in the lead-up to the new year, according to Xinhua, the Chinese government’s news agency. It’s the most important event on China’s calendar.

In this period, a highly prized possession is a ticket that will ensure its holder passage home. Small shops shutter for at least a month, and factories empty as most workers head home to celebrate the holiday. However, a minority remain in cities, lured by the double or triple salaries offered to keep services running. Manufacturers plan ahead by fulfilling orders before the holiday to avoid disruption in the global supply chain.

— By Alexis See Tho, an FM magazine associate editor.

Up Next

Financial modelling with AI: Part 1

Financial modelling with AI: Part 1

By Liam Bastick, FCMA, CGMA
May 23, 2025
Consider the current limitations, risks, and required checking/auditing procedures you should implement when using generative AI with financial models.
Advertisement

LATEST STORIES

Financial modelling with AI: Part 1

Employee respite dimmed by work pressures

IAASB issues going concern guidance for stakeholders

Building executive presence: Tips and strategies

Return to office or retain flexibility? The latest on the debate

Advertisement
Read the latest FM digital edition, exclusively for CIMA members and AICPA members who hold the CGMA designation.
Advertisement

Related Articles