Get ready to shop till you drop! 🛍️ China is kicking off a mega shopping extravaganza this November to supercharge domestic spending and give the economy a big thumbs up. 👍
Announced by Vice Minister of Commerce Sheng Qiuping on Friday, this nationwide campaign is set to jazz up five of China's coolest cities: Shanghai, Beijing, Guangzhou, Tianjin, and Chongqing. These international consumption hubs are about to become shoppers' paradise! 🎉
From mouth-watering food festivals 🍜 to exciting camping events 🏕️, sporty activities ⚽, dazzling exhibitions 🎨, and live performances 🎤, there's something for everyone. And here's the cherry on top: local governments are rolling out sweet deals like incentives for new store openings and handing out consumer vouchers. Cha-ching! 💰
Shanghai isn't holding back either. Riding the wave of the 7th China International Import Expo (CIIE) happening from November 5 to 10, the city is throwing a massive consumption carnival. Time to grab those deals! 🛒
But wait, there's more! Sheng mentioned that the Ministry of Commerce will pilot new automotive sales reforms and launch health consumption action plans. Combined with a major trade-in program for consumer goods, these moves are set to rev up consumer spending and keep the economic wheels turning. 🏎️💨
Here's a snapshot of the numbers: In the first three quarters of 2024, China's total retail sales of consumer goods hit a whopping 35.4 trillion yuan ($5 trillion), marking a 3.3% year-on-year growth. As of October 30, the trade-in program saw 1.68 million subsidy applications for automobiles, and sales of household appliances reached 24.03 million units. Talk about shopping frenzy! 🛍️📈
Looks like November is set to be a shopping spree of epic proportions! Who's ready to join the fun? 🙌
Reference(s):
cgtn.com