China’s top economic regulator calls for efforts to ramp up consumption during holidays

China’s National Development and Reform Commission (NDRC) recently issued a notification addressing the upcoming lunar 2022 Spring Festival and Lantern Festival, aimed at stimulating consumption during the traditional Chinese holidays, according to the official WeChat account of NDRC on Sunday.

The notification outlined efforts to further release consumption potential during the country’s major holiday season to set up a smooth start for the first quarter of 2022, while noting that combating the pandemic will also play a crucial role.

The notification listed 10 key areas including increasing supply and qualification of online and offline consumption, diversifying consumption categories and regions, providing support for small and medium-sized businesses, and, financial assistance for vulnerable groups in the country.

With the 2022 Winter Olympic Games to open in Beijing soon, the NDRC announced plans to expand the winter sports economy across northern China, with measures including discount ticket prices for ski resort entry and lowered tutoring fees, improved transport facilities, equipment rental and emergency rescue services across multiple suburban winter sports venues.

The NDRC encouraged e-commerce platforms to hold online shopping festivals and distribute coupons to boost consumption. Government regulators will ensure normal market order throughout the holidays.

In addressing COVID-19 prevention and control, the NDRC said that responsible departments should avoid ‘one-size-fits-all approach’, to allow the general public to celebrate the Spring Festival free from the burden of excessive testing and quarantine checks.

Source: Global Times

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