Beijing to offer coupons worth billions to spur consumption

BEIJING - Beijing announced on Wednesday it would offer coupons worth 12.2 billion yuan ($1.71 billion) to spur consumption dampened by the COVID-19 epidemic.

The first batch of coupons will be available on Saturday at e-commerce giant JD.com. They can be used at participating restaurants and retailers in Beijing as well as for buying products equipped with smart technologies.

Also on Saturday, Beijing will launch a months-long event to promote consumption. During the event, which will run through the National Day holiday in October, over 400 activities will be held to boost consumption, covering areas such as catering, retailing, culture, tourism, education, and sports.

"The COVID-19 epidemic has taken a heavy toll on Beijing's consumption," said Yan Ligang, head of the Beijing Municipal Commerce Bureau. "The upcoming consumption-boosting event will help promote the resumption of commerce and boost consumers confidence."