Yes, we anticipate the travel industry in the long run will capitalize on the growth of the economy and also Chinese people are very interested in travel around the world So we're very excited for the future growth in the travel industry So in terms of what can be expected in the coming quarters, how will recovery be what kind of pickup can we expect?

especially for the domestic travel market Domestic travel market is growing very well As the COVID is behind us.

We have seen enthusiastic travelers travel around the world and also The visa restrictions for a lot of countries are being lifted particularly for Asia and GCC countries, Australia, New Zealand These countries are doing very well Secondly, also there are lots of air capacity being added into this area So we saw a strong pickup for our travel as well Hopefully going into the summer we'll be able to further relaxation of the visa restrictions and further addition to the flight capacity Which will enable us to bring Chinese travelers to the rest of the world So Jane a lot of optimism when it comes to outbound travel The question really is when outbound travel among the Chinese will get to pre-COVID levels because expectations are not this year Hmm I think based on our data The industry recovered to about 70% already by the end of this year The conservative estimate is that the capacity will be recovered to 80% However for our team will be able to recover fully to pre-COVID level because our customers focus on And they normally are willing to travel around the world ahead of the mass market Jane we know that the Chinese consumers are pretty concerned about The recovery in the economy a lot of them are saving more than their spending when it comes to the travel industry Do you see a segmentation a dual?

segmentation perhaps in a travel sector where Some people are looking for value for money while the luxury sector is also doing as well Yes China is very big.

We have 1.4 billion people so you can see Any kinds of consumers the most expensive tool we saw the pre-COVID cost about 200,000 USD 80 days around the world And we sold it very rapidly We also have created Older generation silver here generation.

This is the first generation after the open-door policy by China Right now they have money and they also have time and they didn't have to travel during the peak season.

So that Generation now are willing to travel always a much more flexible time schedule So that will bring our hotel partners airline partners local to operators really valuable volume during the slow season Again, the young generation also are very robust 80% of our customers were born after the 80s And more than 50% of our customers were born after 90s They're very energetic they focus on concerts entertainment So there is another segments going into the experiential type of travel So Jane, can you put a number to it?

What kind of growth are you anticipating for the different segments?

Yeah, we anticipate in aggregate Growth rate double digits for the next two quarters and going forward we believe we can look at the GDP growth rate at about 5% and Normally travel industry will add 2 to 3 percent on top of the GDP growth and we'll be able to outpace that number And Jane, of course, we have heightened tensions between the US and China Is that is that impacting travel at all?

And is that impacting travel between the two markets?

Hmm, I think during the challenging period people-to-people exchange are very important So China already relaxed visa restrictions for many countries and trip.com have seen 400% growth for inbound customers from the rest of the world.

So travel serves as a bridge For the people from different background different Countries, we are very committed to our mission while we are sending people further away.

We are bringing the world closer So you're saying travel between the two markets is gaining momentum, can you quantify that for us?

Yeah, the base is quite small after COVID, but we have seen very strong growth Among different countries from China to the rest of the world and from the rest of the world into China Jane, of course, we're keeping a very close eye on the strong dollar and the impact on Asian currencies Do you find that your travelers are assessing where they can get the most value?

Given where the respective currencies are trading right now Sure for countries such as Japan the currency is quite low so you see People from all over the world going into Japan China right now the currency is attractive as well.

China also have a duty-free island for Hainan So actually this is the right time for people who are interested in exploring the histories And also the modern infrastructure to come and visit China