Shandong province in East China has implemented a combination of measures to boost consumption.

Leveraging the upcoming traditional Spring Festival holiday, the province launched a Spring Festival consumption season simultaneously in all 16 cities in the province, including in Jinan, the provincial capital.

The consumption season aims to boost consumer confidence and stimulate economic recovery in province.

To support this initiative, Shandong has coordinated various resources, providing a total of approximately 9 billion yuan ($1.2 billion) in funding. These funds will be used to distribute consumption vouchers, organize promotional activities, support trade-ins for new products, and offer substantial discounts to consumers.

Many well-known brands such as BYD and JD.com are actively participating in the consumption season, introducing various measures to promote spending. In Qingdao, a coastal city in the province, local authorities are collaborating with Meituan, Alipay, UnionPay, and other enterprises, with over 150 million yuan worth of gift packages set to be distributed to consumers through methods such as voucher giveaways and promotional events.

Consumption in Shandong is showing steady growth. In the first 11 months of last year, Shandong achieved a total retail sales of consumer goods amounting to 3.4 trillion yuan, representing a 5.1 percent year-on-year increase. The Spring Festival consumption season is expected to further stimulate market vitality and drive consumption growth.

The provincial authorities are also placing greater emphasis on precise and innovative consumption-boosting policies. For instance, through big data analysis, they can better understand market demand, allowing them to provide personalized services to consumers.

The Spring Festival consumption season in Shandong will continue until early March. It has been estimated that this festive season will significantly boost consumption in the province. By developing new forms of consumption such as the sharing economy, silver economy, winter sports economy, and platform economy, and enhancing the quality of supply in sectors like culture, tourism, sports, and accommodation, Shandong is actively creating a vibrant atmosphere where consumers enjoy spending.