Chongchuan district rides surge in consumer spending
Chongchuan benefits from a raft of measures undertaken to stimulate consumer spending and boost economic development. [Photo/WeChat account: chongchuanonline]
Chongchuan district – located in Nantong city, in East China's Jiangsu province – is riding a retail boom that shows little sign of petering out.
In the first three quarters of the year, the district's retail sales of consumer goods totaled 52.37 billion yuan ($8.2 billion), rating it first among the city's other districts and other administrative areas.
Meanwhile, its total volume of trade reached 226.9 billion yuan, with that growth rate also ranking top in Nantong, according to Cheng Yan, an official from the Chongchuan district commerce bureau.
In July 2020, the original Chongchuan and Gangzha districts merged into the new Chongchuan district – bringing a larger population and higher per capita disposable income to the area, which provided strong support for boosting consumption.
More evidence of the strong consumption power of the main urban area is said to be increasing spending on high-end brands. Statistics showed that in 2020, total spending on luxury goods in Chongchuan district – including high-end cars, cosmetics and clothing – hit 14 billion yuan, a year-on-year increase of 35 percent.
To boost consumption, Chongchuan district rolled out a series of incentives earlier this year – benefiting more than 400 businesses – and issued subsidies worth 20 million yuan in total.
In addition, the district also launched various activities to stimulate consumption potential.
