Guiyang launches initiatives to boost consumer spending

A bustling commercial area in Guiyang. [Photo/WeChat account of Guiyang bureau of commerce] 

Guiyang has unveiled a comprehensive series of initiatives to enhance consumer experiences and drive sustained growth in physical retail consumption through government-business collaboration.

These favorable policies are valid until Dec 31, 2024. 

On Nov 1, authorities announced over 130 promotional events across five major categories, targeting urban and rural markets to invigorate consumer activity. Financial institutions such as the Industrial and Commercial Bank of China, China Construction Bank (CCB), and China Merchants Bank offer various promotional policies tailored to different consumer scenarios to stimulate consumption. 

CCB cardholders can benefit from significant savings in the retail sector, particularly in department and electronics stores. Consumers are eligible for discounts of up to 100 yuan ($13.82) on purchases exceeding 999 yuan, with a limit of one discount per user per month. 

CCB credit cardholders can take advantage of the "Thursday 50-percent Off" promotion on dining and supermarket purchases. This includes a 50-yuan discount on a minimum spend of 100 yuan at full-service restaurants and 25 yuan off a minimum spend of 50 yuan at casual dining outlets. 

Until Dec 31, China Merchants Bank debit cardholders can participate in the "Trade-in for New" campaign in the home appliances and furniture sectors. The campaign offers a chance to win up to 500 yuan in WeChat instant discounts. 

Major home appliance retailers and markets, including Easyhome, Red Star Macalline, JD Appliances, and Guoding Appliances, are launching their own promotional activities. Consumers can combine these offers with bank promotions for extra savings.