In celebration of the coming New Year and to spur consumption and stabilize economic growth, Yantian District recently introduced nine supporting policies, including dining, living, tourism, purchasing and entertainment consumer vouchers worth 10 million yuan (US$1.44 million). Three million yuan of subsidies will be provided for the purchase of family-use vehicles, as well as house purchase gift packages valued at more than 10,000 yuan each, in a bid to further boost consumer confidence and stimulate consumer vitality.

Regarding the incentives to encourage car purchasing, for every purchase of a petrol vehicle priced greater than 100,000 yuan and up to 200,000 yuan, a subsidy of 5,000 yuan will be given; for every purchase of a petrol vehicle priced greater than 200,000 yuan and up to 300,000 yuan, a subsidy of 10,000 yuan will be given; for every purchase of a petrol vehicle priced above 300,000 yuan, a subsidy of 15,000 yuan will be given. For every purchase of a new energy vehicle (NEV) priced up to 100,000 yuan, a subsidy of 5,000 yuan will be given; for every purchase of a NEV priced greater than 100,000 yuan and up to 200,000 yuan, a subsidy of 10,000 yuan will be given; for every purchase of a NEV priced above 200,000 yuan and up to 300,000 yuan, a subsidy of 15,000 yuan will be given; for every purchase of a NEV priced above 300,000 yuan, a subsidy of 20,000 yuan will be given. Additionally, Yantian will also support the sales of NEVs by offering 25% of the total furnishing investments of newly opened NEVs showrooms in the first quarter of 2023, with the support subsidies reaching up to 300,000 yuan.

To boost consumer confidence, Yantian will hand out 10 million yuan to produce various promotional activities during the New Year, the Chinese New Year and the Lantern Festival. Various types of consumption vouchers for restaurants, retail, culture, sports, entertainment, accommodation, and scenic spots will also be introduced. Licensed distributors of consumer food products will be financially supported to cooperate with limited retail enterprises and large supermarkets in the area to carry out promotional exchange activities. A one-time subsidy of 50,000 yuan will be granted to retail catering enterprises above designated scale and commercial complexes operating enterprises that invest more than 500,000 yuan in carrying out consumption promotional activities in the first quarter of 2023.