Lishui launches a one-month event to boost consumer spending on May 30. [Photo/WeChat account: ls-mnews]

Lishui city – located in East China's Zhejiang province – kicked off the 2021 Lishui Consumption Promotion Month on May 30, aiming to boost sales as the retail sector continues to rebound from COVID-19-induced spending caution, local media reported.

More than 3,000 companies and business entities are offering nearly 100 million yuan ($15.7 million) in discounts throughout the one-month event. 

Consumer spending has become the main engine of economic growth in recent years. From the start of 2021, Lishui launched a series of promotions to get shoppers out and buying again and it has clearly paid dividends. From January to April, the growth rate of total retail sales in the city reportedly ranked third in all cities in Zhejiang.

"The event is not only a key step to boost consumer confidence, but also a powerful way to promote local brands and develop new forms and models of consumption," said a spokesman at the city's commerce bureau.

In order to respond to China's so-called consumption upgrade – the increasing migration by consumers from basic necessities to more up-market and sophisticated products – Lishui is also focusing on digital reforms and is offering new digital life services during the event, according to officials.