Driven by the longest Spring Festival holiday in history and new duty-free policies, the tourism ETF rose 1% against the market trend.

Gelonghui, November 5th | Global stock markets fell today. The retail and duty-free sectors in China’s A-share market rallied, with Hainan Airport up by 6%, China Duty Free Group rising 3.71%, driving the Tourism ETF up by 1%. The largest Food & Beverage ETF rose by 0.18%. News highlights: ① Recently, the Ministry of Finance and four other departments jointly issued the 'Notice on Improving Duty-Free Shop Policies to Support Consumption Boosting', expanding the range of offshore duty-free goods to 47 categories while increasing domestic product varieties, aiming to redirect overseas consumption back to the domestic market. ② Yesterday, it was officially announced that the 2026 Spring Festival holiday will last from February 15th to February 23rd, 2026, totaling 9 days, marking the longest Spring Festival holiday in history. Within half an hour of the announcement, searches for train tickets and international flights on the Qunar Travel App doubled instantly. Based on already booked flight volumes, air ticket bookings for the 2026 Spring Festival have increased by 63% year-over-year. Notable products and their price movements at press time: Full-scenario coverage of “Travel, Stay, Tour, Purchase”: Tourism ETF (562510) +1.59%, with major holdings including China Duty Free Group, Junting Hotel, Hainan Airport, and Shanghai Airport. The largest ETF in the same category: Food & Beverage ETF (515170), +0.18%, with a latest scale of RMB 6.164 billion, seeing a year-to-date increase of 5.1 billion shares, both ranking first in its category. Major holdings include premium baijiu companies like Kweichow Maotai, Wuliangye Yibin, and Shanxi Xinghuacun Fen Wine, collectively accounting for approximately 60%.