China’s Ministry of Commerce (Mofcom) fears that lower private spending could jeopardize the country’s growth targets. To ensure that retail sales do not weaken too much, Mofcom has now announced a month-long consumption campaign. It kicks off in Shanghai, where a series of activities to boost private consumption will begin on the May 1 holiday. A shopping festival will also begin on May 5, according to state media, reaching out beyond Shanghai to consumers in Beijing, Chongqing, Suzhou, Jiangsu, and Guangdong provinces. The city of Haikou on Hainan Island will host the first consumer goods fair from May 7 to 10, according to officials. Consumer goods from 69 countries and regions, including Japan, Britain, and the US, will be showcased alongside domestic products.
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