Hainan invests $18 m to promote consumption

Statistics released by the Hainan Provincial Department of Commerce on May 6 show that the province has invested over 120 million yuan ($18 million) to issue 2.3 million consumer coupons since April 30, as well as launched a series of promotional activities, which have been welcomed by consumers.

On April 29, Hainan issued measures for promoting consumption, such as issuing consumer coupons. The province planed to invest over 200 million yuan to issue various consumer coupons.

On April 30, the Hainan Provincial Department of Commerce began to issue the first batch of 512,500 consumer coupons, with a value of 20.2 million yuan. On May 1, the department cooperated with five banks to invest 10 million yuan in digital yuan and launched a duty-free shopping discount activity, which will last until May 31. In addition, Haikou, Sanya, Danzhou, Chengmai, Lingshui, Dongfang, Wenchang, as well as other cities and counties in the province also issued various consumer coupons to promote consumption.

From April 30 to May 4, the sales of 10 offshore duty-free shops in the province amounted to 645 million yuan, an increase of 38.9 percent compared with the five days before the Labor Day holiday, which fell in that period.

An official of the Hainan Provincial Department of Commerce said that Hainan will next strengthen overall planning of consumption promotion, as well as make full use of the upcoming Dragon Boat Festival and the summer tourism peak season to carry out consumption promotion activities.