The Luohu New Year Shopping Festival started on Dec. 31. The Luohu district government launched consumption coupons worth 5 million yuan ($784,500) on the day, which consumers can use to enjoy large discounts in various designated shops and e-commerce platforms in the district.

More than 600 shops as well as some big-name e-commerce platforms are taking part in the activity, offering a cumulative discount of more than 40 million yuan.

Consumers can use coupons to get deals on automobiles, furniture, household appliances, gold and jewelry, food, and other consumer goods when they pay with UnionPay or with digital renminbi.

The coupons are distributed among UnionPay app users at 8am every day starting from Jan. 1. They can be used in most stores in the main shopping zones of Luohu, including Dongmen, Sungang, Renminnan, and Shuibei.

Among the 5 million-yuan coupons, 400,000 yuan is dedicated to promoting gold and jewelry consumption.

Statistics on e-commerce platform Meituan show that in the third quarter of last year, its transaction volume in Luohu hit 1.66 billion yuan, an increase of 14.59% compared with the same period last year. Nighttime consumption – a key indicator of the vibrancy of the night economy – accounted for 49.84% of this total.

In addition, Meituan announced that tourists from Guangzhou, Dongguan, Huizhou, Shanghai, and Beijing frequent Luohu the most.

Luohu is committed to building itself into a regional consumption center with global influence through international brands, new business models, and developed culture, tourism, and leisure services.