Luohu plans to invest 50 million yuan ($7.37 million) to provide consumption subsidies and hold activities to boost sales in such key industries of automobiles, home decorations, and gold and jewelry this spring. Through the initiative, the district government aims to increase retail sales by 1.5 billion yuan.
Luohu has taken several pro-consumption measures, including developing five characteristic consumption zones, promoting livestreaming e-commerce and popularizing digital RMB, which has supported the high-quality development of the district’s consumption sector.
Shenzhen is building itself into an international consumption center. The district’s key objective is to transform itself into a core zone of Shenzhen in terms of consumption and set global fashion trends.