Latest round of consumption coupons now on offer
Shanghai will issue a new round of shopping coupons with a total value of 40.6 million yuan (US$5.7 million) to further drive economic recovery and boost consumption confidence.
The coupons will be delivered via digital RMB, with 700,000 slots arranged.
Each coupon allows a 58 yuan deduction for every 108-yuan of consumption.
Applications can be made from today via Shanghai's official WeChat account Shanghaifabu and will end on midnight November 21, according to the city government.
A lucky draw will be held to pick the 700,000 winners and people need to download the "Digital RMB" app to use the coupons with the duration of use running between 9am, November 24, and the end of December 11.
The city has delivered three rounds of consumption coupons, attracting a large number of participation and promoting consumption, the city government said.