Shanghai Rolls Out 12 Measures to Boost Consumption

Shanghai recently introduced 12 measures in a bid to boost consumer confidence and unleash consumer demand. These measures include:

• Organise a series of consumer activities on special themes, such as the ‘Double Five’ shopping festival held on 5 May.

• Launch ‘cloud’ activities such as cloud window shopping, cloud shopping, cloud exhibition, cloud catwalk and cloud experiences.

• Focus attention on the launch of five major cultural tourism festivals, namely the Shanghai Citizens Arts Festival , ShanghaiInternational Arts Festival , Shanghai International Film and Television Festival and League of Legends World Championship finals .

• Promote the scrapping and replacement of old vehicles and offer subsidies to the purchase of new vehicles that meet the China VI emission standards.

• Host the Shanghai Digital Information Festival and organise e-commerce service platform enterprises to promote O2O consumer engagement.

• Offer financial support to new product launches that meet specified standards and the opening of first outlets and flagship stores.

• Support duty-free enterprises in opening downtown duty-free stores.

Full details can be found in the notice (Hu Fu Ban Gui No. 4 [2020]) issued by the Shanghai Municipal Government on 23 April 2020.

Source: Shanghai Municipal Government