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Stimulus measures increase consumer spending in Futian
Shenzhen Daily 2024-08-17 10:37

Foot traffic within Futian District’s main commercial areas has increased by 28% year on year since July, when over 350 special shopping events were launched in the district to boost consumer spending. Sales have grown by 15% compared to the same period last year.

These figures were revealed during a special event in Futian on Friday where millions of yuan of vouchers were distributed to encourage cultural and tourism spending. The event, the latest in the “A Joyful Summer, High Fun Futian” series that began in July, caters to various consumer groups including families with young children, college students, visitors from other Guangdong-Hong Kong-Macao Greater Bay Area (GBA) cities, and international travelers.

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Accessible through the Futian District Government’s official WeChat account “Happy Futian,” these cultural and tourism vouchers provide access to the Ping An Finance Center Observatory for only 50 yuan (US$6.99). There, visitors can enjoy spectacular panoramic views of Shenzhen and Hong Kong.

Ping An Finance Center Building is the city’s tallest skyscraper.

Moreover, with the accompanying hotel coupon, voucher recipients are entitled to a 50% discount on select high-end hotels in Futian. The vouchers can also be used for various cultural and leisure activities, such as movies and amusement parks.

Previously, Futian distributed gift packages to increase spending in automotive, digital electronics, and home appliances, among others.

Futian, in collaboration with local vehicle dealerships, is offering 30 million yuan of subsidies for vehicle trade-ins. Individuals can receive up to 8,000 yuan per trade. This subsidy can be combined with additional benefits, like gifts and discounts, provided by individual car dealerships.

The district has also set aside more than 40 million yuan to subsidize purchases of digital electronics and home appliances in the district. Consumers can receive a subsidy of up to 2,000 yuan for purchases in the two categories.

Exclusive digital red envelopes are being jointly distributed to consumers from Hong Kong and Macao by Futian and Bank of China Hong Kong to stimulate cross-border shopping.

The shopping festivities in Futian, featuring discounts and coupons across fields including gourmet food and fashion, will continue through October.


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