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People participate in a night fair held in Jiaxing, East China's Zhejiang province. [Photo/cnjxol.com]

The nighttime economy has become a new consumption driver in Jiaxing. The city has held more than 60 night fairs this summer, attracting more than 300,000 people and driving sales of more than 10 million yuan ($1.44 million).

According to a survey report of urban residents' consumption habits by the Ministry of Commerce, 60 percent of consumption in China takes place at night, and more than half of the total consumption in large shopping malls takes place between 6 and 10 pm every day.

In recent years, the city has made strong efforts to build the nighttime economic cluster and nighttime cultural and tourism consumption cluster. The city currently has four nighttime economy characteristic blocks and 21 famous nighttime economy stores.

In addition, before the end of September, the city will organize more than 100 promotional activities and issue 300 million yuan in consumption coupons for automobiles, home appliances, furniture, home decoration, accommodation, catering, tourism, culture, and sports.