LGs in China issue consumption coupons for Autumn Festival, National holidays

Many local governments in China have issued coupons to stimulate consumption in the mid-autumn festival holiday and the upcoming National Day holiday, according to the Securities Daily Sunday.
The News Agency of Nigeria (NAN) reports that the mid-autumn holidays are usually held between Sept. 19 and Sept. 21, while the National Day holidays are held between Oct. 1and Oct. 7.
Nanjing, capital of east China’s Jiangsu Province, announced on Sept. 10 to issue three rounds of coupons, with the aim of boosting consumption in shopping malls, supermarkets and the catering sector.
Central China’s Hubei Province, on Sept. 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, the coupons have significantly increased the turnover of eight large enterprises.
The data revealed that between Sept. 19, and Sept. 21, the sales of 33 retail sample enterprises in large and medium-sized cities of Hubei reached 1.316 billion Yuan, up by 1.11 per cent year-on-year.
On Sept. 22, Chinese retail giant Suning.com released a report on the consumption big data during the Mid-Autumn Festival this year.
The consumption showed that with the effective control of the COVID-19 pandemic, offline consumption was 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 Sept. 18 to Sept. 20, the online consumption in Shanghai Municipality registered 18.10 billion Yuan, up by 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 Oct. 1, the first day of the National Day holiday, has reached 30.12 million Yuan as at 16:00 on Sept. 26.
LY.COM, a travel booking platform, on Sept. 23 released a report on the travel trend during the National Day holiday in 2021.
The report stated 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.
It added that new consumption boom would also be experienced during the holiday.