(Yicai) July 1 -- China’s Ministry of Culture and Tourism, together with major provincial-level regions such as Shanghai and Guangdong, have kicked off a nationwide summer tourism consumption season. The campaign features thousands of events and over CNY570 million (USD79.5 million) in consumer subsidies aimed at boosting holiday spending.

More than 4,300 cultural and tourism consumption activities, comprising 39,000 events, will be held during the 2025 National Summer Cultural and Tourism Consumption Season which runs from July to August, the ministry said yesterday. Local governments are expected to hand out more than CNY570 million worth of consumer subsidies, including vouchers and discounted ticket offers, over the period.

On the same day, the Civil Aviation Administration of China also launched a series of promotions for summer travellers. And financial institutions such as China UnionPay, Agricultural Bank of China and Bank of China, have unveiled financial incentives to encourage cultural and tourism spending.

These consumption vouchers will help boost spending, said Liu Xiangdong, deputy director of the China Center for International Economic Exchanges' economic research department.

In the short term, they are likely to spur summer tourism spending, unlock consumption potential and attract more consumer traffic to local areas. This way, they can revitalize local resources and create a positive cycle of improving living standards and economic growth.

Compared to goods, services have immense potential and could become a new driver for consumption growth, experts said. Expanding consumption on services can create more jobs and lead to faster income growth which will spur consumer spending.

Editor: Kim Taylor