China’s Ministry of Culture and Tourism has announced a new campaign to boost consumption in the country’s cultural and tourism sectors. Running until the end of the year, the campaign aims to benefit consumers and address difficulties faced by small and micro enterprises. In a circular, the ministry called for the formulation and implementation of measures to subsidize consumers, and for administrative departments of culture and tourism to collaborate with financial institutions, e-commerce platforms, and new media organizations to promote consumption. The circular also called for an increase in activities such as concerts, music festivals, and exhibitions.
The campaign is expected to provide a boost to the Chinese economy, which has seen a slowdown in growth in recent years. The country’s service sector, which includes cultural and tourism industries, has been identified as a key area for growth. The Chinese government has been investing heavily in the sector, including through policies such as the “Belt and Road Initiative,” which aims to boost tourism and cultural exchange along a network of routes across Asia, Europe, and Africa.
The campaign is also expected to benefit consumers, particularly those with lower incomes, who have been hit hard by the economic slowdown. The government has identified consumption as a key driver of growth, and the new campaign is part of a broader effort to encourage spending and stimulate economic activity.