The second Suzhou Double 12 Shopping Festival kicks off at the Suzhou Center on the evening of Dec 11. [Photo/WeChat account: suzhoufabu365]
The second Suzhou Double 12 Shopping Festival kicked off at the Suzhou Center on the evening of Dec 11.
The event will last until February next year and feature over 1,300 consumption promotion activities involving online consumption, business district consumption, automobile consumption, and home improvement consumption.
During the opening ceremony, key local companies such as Cobos, Goodbaby and Bosideng, as well as leading e-commerce platforms like Alibaba, Suning Yigou and Bilibili, launched special subsidies, coupons and discounts for customers taking part in the shopping festival.
Bosideng releases new products at the event. [Photo/WeChat account: suzhoufabu365]
Jiangsu province implemented policies to reassure consumers and allow for unconditional return and exchange of goods within seven days of purchase, with the participation of over 120,000 merchants in Jiangsu, including 88,000 Suzhou-based merchants.
The Jiangsu Province Pedestrian Street Alliance was formally established as well, aiming to improve brand concentration, consumer convenience, and market prosperity.
Suzhou also took measures to incentivize more major brands and retail chains to open stores in the city.
Famous international and domestic brands that open their first stores in Suzhou will be able to receive up to 10 million yuan ($1.57 million) and 3 million yuan in financial support, respectively.
The fourth round of Suzhou's digital RMB was released as well. Each pilot bank for digital RMB in Suzhou will cooperate with leading merchants to allow consumers to shop with digital RMB as a kind of coupon.