Xiamen sees consumption boom during Spring Festival holiday
A customer shops for decorations during the past Spring Festival in a shopping mall in Xiamen, Fujian province. [Photo/WeChat account: xiamen_swj]
Consumption in Xiamen, Fujian province during the Spring Festival holiday reached 6.78 billion yuan ($1.06 billion), up 11 percent year-on-year.
Of which, the city's catering sector achieved a cumulative turnover of 785 million yuan, up 11.95 percent year-on-year, while the city's four monitored e-commerce companies accumulated a combined turnover of 92.89 million yuan, a 23.63 percent increase year-on-year, during the seven-day holiday.
Behind the consumption boom during the Spring Festival holiday was the municipal bureau of commerce's efforts, such as supplying sufficient foodstuffs, holding promotional Spring Festival-themed consumption events, and releasing subsidiary policies and distributing coupons.
The municipal bureau of commerce, for instance, encouraged department stores, supermarkets, and franchised convenience stores to offer online consumption coupons to locals and tourists in Xiamen during the seven-day holiday via online platforms such as Alipay, WeChat, and UnionPay, as well as provided subsidies to businesses.
Thirty-seven businesses held over 60 activities and issued over 3.15 million coupons online, amounting to over 52.39 million yuan, which energized the consumer market during the holiday.
In addition, the municipal bureau of commerce made sure to plan in advance to ensure an adequate number of supplies and stable prices during the holiday. The preparations included enlisting the help of key supply businesses to boost the foodstuffs supplies by 10 to 20 percent more than usual.
Why Xiamen
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Xiamen is one of the most economically competitive cities in China and was one of the first Special Economic Zones on the Chinese mainland. As a vice-provincial city independently listed on the State development plan, it has provincial-level authority in economic administration and local legislative power. In 2010, the Xiamen SEZ was expanded to cover the entire municipality. Today, Xiamen is a modern and international port city.