Shandong focuses on expanding consumption structure

(| Updated : 2021-04-23

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Since the beginning of this year, the province of Shandong in East China has been ramping up efforts to increase support to upgrade its consumption structure and maximize its potential.


A driver charges his new energy vehicle in Weifang, Shandong province. [Photo by Wang Jilin/For China Daily]

According to the Shandong Provincial Department of Finance, full support will be given to improve the trade circulation system. A total of 125 million yuan ($19.24 million) has been allocated to strengthen the logistics distribution system and terminal facilities in rural areas to help sell farm products to big cities, as well as to transport industrial products to villages.

The department has also launched measures to encourage consumption in key areas. Focusing on expanding automobile consumption, it has provided subsidies worth 4.3 billion yuan for the promotion and application of pure electric vehicles, as well as plug-in hybrid electric vehicles in an effort to phase out high-polluting diesel trucks.

Efforts have been made to boost cultural and tourism consumption. Funds of 91.4 million yuan were raised to host the cultural and tourism consumption season event across the province, as well as to attract more engagement.

This year, about 6.83 billion yuan in the pilot reform of equity investment for railway, airport, high-speed, and other transportation development funds will be used to improve the province's transportation network.

More measures will be launched to further cultivate new types of consumption, as well as to promote the growth of both online and offline consumption in the province.