Shandong spring consumption season kicks off

(| Updated : 2023-02-27

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People look at lanterns at a shopping mall in Yantai, Shandong province, Feb 1, 2023. [Photo by Tang Ke/For]

The 2023 Shandong spring consumption season event kicked off on Feb 26 in Jining, Shandong province. It's designed to further stimulate market vitality and help market recovery.

With the Chinese economy beginning to rebound from the impact of the COVID-19 epidemic, the pent-up potential of consumption is being unleashed.

Seventy sales promotional activities will take place during the spring consumption season, covering 10 sectors such as automobiles, home appliances, retail and catering.

The province and local cities will distribute 400 million yuan ($57.96 million) in consumption coupons to boost purchases. A total of 150,000 enterprises and 850,000 merchants will participate in the sales promotions and financial institutions will also provide payment incentives.

The move is expected to reduce household burdens, inject vitality into the consumption market and enhance confidence in economic recovery, said local officials.