The Shanghai government will offer more coupons beginning Saturday with higher discounts to boost consumer spending.
As many as 3.58 million catering coupons were handed out during the first wave that began at the end of September.
Between September 28 and October 28, offline food and beverage spending surged 25 percent from the same period a year earlier to 33.1 billion yuan (US$4.66 billion). This was partly due to coordinated efforts from various levels of government and commercial districts to boost leisure spending.
Starting this Saturday, consumers can receive a 30 percent discount coupon when spending a minimum of 300 yuan, 500 yuan, 800 yuan or 1,000 yuan. Each person can pick one discount coupon from either Alipay, WeChat Pay or UnionPay.
They will be available on a first-come, first-served basis starting at 10am on Saturday, and will be valid for 10 days.
That means deeper discount from the previous 50 yuan coupon for a 300 yuan purchase or a 100 yuan price cut for a 500 yuan purchase.
As many as 14,310 caterers and restaurants have signed up for the promotion activity. Shoppers can check whether the coupons are valid for use at each payment platform.
Shopping centers have also offered additional discounts, which contributed to a rebound in family gatherings and banquets.
