Hainan releases 100m yuan of coupons to stimulate economic recovery

Other than hosting the International Offshore Duty-Free Shopping Festival and other vital events, authorities in Hainan will release consumer coupons worth 100 million yuan ($14 million).

On Sept 19, a press conference was held in Haikou to explain the newly issued policies, named the Action Plan for Epidemic Prevention and Control and Economic Recovery of Hainan Province and the Special Measures for Hainan Province to Stabilize Economy and Promote Enterprises' Development.

In Haikou and Sanya, coupons worth 70 million yuan will be released for consumers to use in duty-free shopping, dining, and retail. In Danzhou, Qionghai, Wenchang, Wanning, and Chengmai, coupons worth 20 million yuan will be released for customers to spend on dining and retail. In addition, digital RMB coupons worth 10 million yuan will be released by the provincial government, and customers can use them to pay for household appliances.

The COVID-19 situation in August smashed Hainan's tourism very hard. Last month, Hainan's tourism scene was at a standstill, and tourism enterprises in the province are now facing severe challenges and unwanted pressure for survival. Under such dire circumstances, issuing the latest policies aims to aid Hainan's tourism enterprises to sustain their business and resume work and production soon.