According to a research report published by Yamato, considering the various visa-free measures for inbound tour groups and flight transit, it is hoped that the mainland tourism industry will continue to recover, while overseas travel during long holidays will also continue to grow. The average daily cross-border travel volume will reach 90% of the same period in 2019, and international flight passenger traffic will also return to 60% of the same period in 2019. It is expected that the recovery trend of inbound tourism in the fourth quarter will be more obvious. The bank is optimistic about tourism-related brands in the Chinese consumer industry, gave “buy” ratings to preferred stocks Samsonite, Yaduo Group, Huazhu Group, and Shangri-La, and expects the tourism industry to recover more optimistically next year.