Spring Festival boosts Shandongs consumption market

chinadaily.com.cn2025-02-11 14:15:36

　　Shandong's diverse initiatives and subsidies have contributed to a buoyant consumer market during the Spring Festival. [Photo/WeChat account: shandongzhengfu]

　　During the Spring Festival holiday, Shandong's consumption market showed positive trends, with sales at 500 key retail enterprises rising by 2.35percentcompared to the previous year.

　　The region witnessed high consumer activity, from bustling restaurants to vibrant tourism, reflecting robust market dynamics.Product sales increased by 2.40percentwhile catering revenue grew by 4.50percentcompared to the previous year's Spring Festival.

　　To sustain this momentum, Shandong launched the "2025 Shandong Spring Festival Consumption Season" across 16 cities on Jan18, organizing over 700 activities focusing onthefestival, tourism, ice and snowevents, catering, and e-commerce consumption.

　　Meanwhile, Shandong introduced anupdated trade-in policy, expanding subsidy coverage to include home appliances like microwave ovens and digital products such as phones and tablets, aiming to boost consumer enthusiasm for upgrading during the Spring Festival.

　　Additionally, online consumption thrived during the holiday, with the Yantai Free Trade Zone's cross-border e-commerce warehouse housing various imported goods ready for shipment.

　　Cross-border logistics and e-commerce developments have integrated imported goodsinto daily life. Yantai Customs releasedaround 130,000 orders of imported goods from cross-border e-commerce retail between Jan 28 and Feb3. This indicates a growing trend of international products in consumer shopping carts.