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Shanghai to offer US$74m in coupons
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Consumption vouchers for leisure activities, dining, and tourism will be handed out to residents as well as foreigners in Shanghai in an effort to spur spending.
Coupons worth 500 million yuan (US$74 million) will be offered by the local government from Saturday to fully leverage the holiday season, government officials said.
Follow-up coupons will be offered in several batches later in the year depending on the response.
Wei Lu, chief economist of the Shanghai Development and Reform Commission, said the service consumption subsidies fit well with the consumption upgrade trend and cater to different types of leisure activities for different consumer groups during the peak holiday season.
The latest initiatives have been put in place to encourage daily consumption and coincide with the Shanghai Double Five Shopping Festival as well as the “Shanghai Summer” International Consumption Season, he said.
By offering these coupons, city authorities aim to unleash more synergies between retail, tourism, entertainment, performance and sports events through coordinated efforts.
Relevant authorities will also be assessing the actual usage of the coupons and will be optimizing the number and the different types of vouchers to enhance consumers’ experience.
The city’s action plan to boost service consumption was unveiled earlier this year by authorities in the commerce, retail, tourism, sports sectors and economic planning bodies. By 2027, the service industry is expected to contribute over half of the city’s total retail size.
Jin Lei, deputy director of the Shanghai Administration of Culture and Tourism, said it plans to fully leverage the momentum of vibrant tourism and accommodation spending during the rest of this year.
The growth rate of the city’s combined hotel accommodation revenue in the first half of this year is the highest in the country.
Over a dozen types of coupons in four major sectors — catering, accommodation, movie and sports — will be available on a first come, first served basis.
Catering
Total amount: 360 million yuan
Effective: Seven days upon receiving the coupon
Details: The catering vouchers will be available in two rounds, each time with total amount of 180 million yuan.
Customers can log into the designated payment platforms with access to the list of eligible vendors.
In the first batch, which opens at 10am on September 28 and lasts for four weeks, coupons worth 90 million yuan will be allocated in the first week while coupons worth 30 million yuan will be available during the remaining weeks.
The second batch is planned for November with the exact allocation to be determined later based on the initial response in the preceding months.
Accommodation
Total amount: 90 million yuan
Effective: Seven days upon receiving the coupon
Details: Locals and visitors can receive vouchers, which are available in two batches: from the end of September and lasts till the end of October, and from November till the end of December.
The vouchers are intended to encourage travelers to extend the length of stay in the city. The coupons can be only used for accommodation.
Movies
Total amount: 30 million yuan
Effective: 24 hours upon receiving the coupon
Details: Ticketing sites Taopiaopiao and Maoyan will contribute 15 million yuan in subsidies.
Concert, music festival, gaming, and performance ticket holders will also receive Target vouchers. Double-ticket buyers will receive discounts.
Sports
Total amount: 20 million yuan
Effective: 24 hours upon receiving the coupon
Details: Six types of vouchers will be available for use at over 700 sports venues, with target coupons for special activities such as swimming, badminton, and ice and snow sports.
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