China's Zibo Fiscal Revenue Gains in First Quarter After Night Market Barbecue Goes Viral
Chen Yikan | Ning Qi
DATE:  Apr 21 2023
/ SOURCE:  Yicai
China's Zibo Fiscal Revenue Gains in First Quarter After Night Market Barbecue Goes Viral China's Zibo Fiscal Revenue Gains in First Quarter After Night Market Barbecue Goes Viral

(Yicai Global) April 21 -- Zibo, an old industrial city in China's eastern Shandong province, said its fiscal revenue rose in the first three months of this year after the city recently went viral on the internet for its special night market barbecue, making it a popular tourist destination.

Zibo's fiscal income climbed 4.2 percent to CNY11.1 billion (USD1.6 billion) in the three months ended March 31 from a year earlier, versus declining in the first two months, data from the city's Bureau of Finance showed. The city ranked third in Shandong in fiscal revenue growth for the first quarter, up seven places from February, according to the data.

The night market barbecue in Zibo has become popular on short video platforms in China and has attracted widespread attention since the start of March. The local government jumped on the opportunity to transform the city, characterized by the oil refining and chemical industries.

Several banks in Zibo have launched credit products for the barbecue industry, offering loans of up to CNY1 million (USD145,200) with a term of as much as one year to entrepreneurs, helping them to renovate storefronts and attract more customers.

Zibo's culture and tourism department also introduced promotional activities, including launching barbecue-themed products and the 'barbecue express,' which provides round trips between Zibo and Jinan, Shandong's capital city.

Visitors in Zibo soared 134 percent to 4.8 million last month from a year ago, with income from tourism jumping 60 percent.

Zibo's population numbered 4.7 million at the end of 2022, with its gross domestic product rising 4.7 percent to CNY440.3 billion (USD63.9 billion) in the 12 months ended Dec. 31 from the year before. It ranked seventh out of 16 prefecture-level cities in Shandong in terms of total economic output, according to official data.

Editors: Dou Shicong, Martin Kadiev

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Keywords:   Zibo,Barbecue