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在线翻译:
szdaily -> Business -> 
Beijing looks to fashion show, bar festival to boost spending
    2020-09-07  08:53    Shenzhen Daily

BEIJING City is hoping that a fashion show, harvest festival or bar culture celebration will convince shoppers to open their wallets as the world’s No. 2 economy recovers from the impact of the COVID-19 outbreak.

Beijing’s plan will be part of a nationwide campaign starting this week to boost consumption and restore consumer confidence. Tens of thousands of companies across China will participate in the “Consumption Promotion Month,” with participation from the auto, home appliance, clothing, electronics and agriculture sectors, according to the commerce ministry.

“China’s consumption market has suffered unprecedented shocks since the outbreak of the coronavirus,” Commerce Ministry official Wang Bin said at a briefing in Beijing on Friday.

“The recovery of industries such as catering and accommodation has been slower than expected and sales of some durable consumer goods have fallen sharply.”

Local governments will provide funding to support the campaign, the ministry said, including consumption coupons and subsidies. Participating businesses such as Alibaba Group Holding and JD.com Inc. will also offer subsidies and discounts.

The campaign is expected to stimulate consumption, help companies return to normal operations and stabilize supply chains, Wang said.

It also will benefit the “dual circulation” development model, he said, which calls for a focus on the domestic economy.

China’s domestic consumption growth is expected to accelerate sharply in September, Wang said at the press conference Friday.(SD-Agencies)

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