Xiamen boosts consumption through policy
The commerce bureau of Xiamen in East China's Fujian province rolls out a slew of measures to boost consumption. [Photo/VCG]
The commerce bureau of Xiamen in East China's Fujian province has rolled out a slew of measures to boost consumption, including digital consumption coupons and subsidies for consumers, according to a news conference held in the city on April 21.
The measures include expanding the consumption market, encouraging holiday spending and online consumption, optimizing the consumption environment, and promoting innovative applications of supply chains.
Large supermarkets, convenience store chains, and catering enterprises are encouraged to release consumption coupons through online platforms such as Alipay, WeChat pay, UnionPay, and other platforms, and the local government will offer 50 percent financial subsidies to enterprises that release consumption coupons.
Local authorities have said that the consumption coupons should be electronic and with a face value not exceeding 1,000 yuan ($154.55). The coupons should be issued and used from May 1 to 5.
Additionally, merchants were urged to strictly implement regular epidemic prevention and control measures to ensure a safe consumption environment.
Why Xiamen
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Xiamen is one of the most economically competitive cities in China and was one of the first Special Economic Zones on the Chinese mainland. As a vice-provincial city independently listed on the State development plan, it has provincial-level authority in economic administration and local legislative power. In 2010, the Xiamen SEZ was expanded to cover the entire municipality. Today, Xiamen is a modern and international port city.