Shanghai issues e-coupons to spur consumption
Shanghai will for the first time issue e-coupons to boost consumption, with the campaign running from late August to late November, the municipal commission of commerce said on Wednesday.
The coupon program, totaling 1 billion yuan (about 147.4 million U.S. dollars), will be launched in three batches over the three-month period, the commission said.
Consumers in Shanghai aged 18 or above can apply for the vouchers, which can be used online or offline for dining, retail, or cultural and tourism consumption.
In addition to these government subsidies, authorities have also encouraged e-commerce platforms and businesses to offer more promotions and discounts to amplify the effect of the policy.
Liu Min, deputy director of the commission, said authorities hope the issuance of the consumption coupons will help boost consumer confidence.
Shanghai has recently taken a spate of measures to boost consumption. After implementing measures to boost car purchases, local authorities will introduce measures to spur home appliance purchases.