Research preview

The cooler weather and National Day holiday have sparked a surge of visitors to China’s scenic spots, where elaborate flower displays are attracting diverse consumers. For quantitative traders, such seasonal consumer shifts create measurable signals that can be woven into asset‑pricing models, factor analyses, and short‑term trading strategies. This article shows how to translate the observable tourism boom into actionable data, using core concepts from modern portfolio theory, factor models, and market‑microstructure. Seasonal Demand as a Macro Factor When large numbers of people travel to outdoor locations, spending on transportation, hospitality, and discretionary retail rises sharply....