Local governments in China issue coupons to stimulate consumption

Multiple local governments in China have issued coupons to stimulate consumption in the mid-autumn festival holiday (September 19-21) and the upcoming National Day holiday (October 1-7).
Nanjing, capital of east China’s Jiangsu Province, announced on September 10 to issue three rounds of coupons during the Mid-Autumn Festival holiday and the National Day holiday, with the aim to boost the consumption in shopping malls, supermarkets and the catering sector.
Central China’s Hubei Provinceon September 17 also issued a batch of coupons which were sold out within seconds.
According to the monitoring data from the Department of Commerce of Hubei Province, driven by the coupons, the turnover of eight large enterprises in Hubei’s capital city Wuhan increased significantly from 2019 and from September 19 to 21, the sales of 33 retail sample enterprises in large and medium-sized cities of Hubei reached 1.316 billion yuan, up 1.11 per cent year on year.
On September 22, Chinese retail giant Suning.com released a report on the consumption big data during the Mid-Autumn Festival in 2021, and it showed that with the effective control of the COVID-19 pandemic, the offline consumption is gradually picking up with lazy economy, three-child economy and county economy becoming new engines for consumption.
Data from the Consumer Market Big Data Laboratory (Shanghai) showed that from September 18 to 20, the online consumption in Shanghai Municipality registered 18.10 billion yuan, up 16.5 per cent year on year.
According to piaofang.taopiaopiao.com, a box office tracker under Alibaba Pictures, the pre-sale box office on October 1, the first day of the National Day holiday, has reached 30.12 million yuan as of 16:00 on September 26.
LY.COM, a travel booking platform, on September 23 released a report on the travel trend during the National Day holiday in 2021, and it said that during this year’s National Day holiday, the number of domestic tourists would reach 650 million, recovering to more than 80 per cent of the same period in 2019, and a new consumption boom would be seen during the holiday.