Financial services giant helps stimulate city's economy, boost consumption
Financial services giant China UnionPay kicked off a shopping campaign in Shanghai on Friday to help revive the city's economy and boost daily consumption after the two-month lockdown.
Key stimulus measures include partnerships with well-known merchants and top e-commerce platforms, with banks to offer discounts and other benefits.
For offline shopping, UnionPay joined hands with Lotus Market, Lianhua markets and Century Lianhua supermarkets to lure local residents by offering a variety of incentives.
Twelve business entities such as New World City, Huijin Department Store and Pacific Department Store, as well as catering merchants like Bon Martin Paris, also joined the promotion partnership.
To boost online consumption, UnionPay has teamed up with e-commerce companies such as Poizon, Gome and Dingdang Medicine Express, a domestic pharmaceutical retailer, to spur people's spending on services closely related to their daily lives.
In terms of transportation, UnionPay and Shanghai Transportation Card Company launched preferential activities for card recharges, and facilitated people's contactless travel.
UnionPay also worked with 11 banks in Shanghai to award cardholders for their social security-related card use.