Big data tech fuels rapid economic recovery in Shenzhen's Nanshan

Shenzhen’s Nanshan district has achieved good results in economic recovery after its anti-virus fight, with its five big-data products selected as the nation’s outstanding cases. [Photo/sznews.com.cn]

The five big-data products released in Shenzhen’s Nanshan district were recently listed in the nation’s 94 excellent cases, due to their outstanding effects in prevention of the novel coronavirus (COVID-19) epidemic as well as resumption of production.

The products have helped to cultivate a system that boosts the district’s consumption. As of the May Day Holiday, sales in Nanshan’s trading areas were improved to more than 85 percent of its year-on year level, with an upward trend in the local economy.  

But what did governments, enterprises and consumers do to cause that result?

First, the governments rolled out preferential measures to safeguard enterprises’ production during the outbreak, including financial aids, protective material supplies and incentives.

They delegated more powers to the enterprises -- the main players in the market -- and left more development space for them so as to promote the economy.

“The district committee and government can guarantee the homegrown enterprises because of their high-quality of production,” said the district’s Party Secretary Wang Qiang on April 20.

As for consumers, on April 25 Nanshan launched a global-oriented online purchasing activity which will last for two months, giving out coupons valued at a total of 25 million yuan ($3.51 million). On the first day of the event, the turnover reached 400 million yuan.

Not only will the residents get the most direct benefit from consumption, but the enterprises will also increase their exposure in the market. Together they will create the virtuous circle of a “consumption stimulus system”.

Notably, the district gave full play to the roles of its science and technology companies.

Tencent, China’s digital giant, developed a mini-program dedicated to the purchasing event, and carried out more activities such as sweepstakes jointly with other firms.

Nanshan unveiled a global-oriented purchasing activity online on April 25. [Photo/China News Service]