Taizhou morning tea industry flourishes with new bank initiatives

A Taizhou Rural Commercial Bank employee introduces a morning tea promotion activity to citizens. [Photo/tznews.cn]

Taizhou's morning tea culture, a vital aspect of the city's identity, is experiencing rapid growth. The sector now boasts over 2,600 establishments within the service area of Taizhou Rural Commercial Bank, employing more than 18,000 individuals. Despite this expansion, the industry faces challenges, including weak market competitiveness.

In response to these issues and to support the local industry, Taizhou Rural Commercial Bank has launched a new promotional initiative. Customers can enjoy a discount of 15 yuan ($2.09), for example, on purchases of 30 yuan or more at participating shops. Currently, 28 stores are involved in this promotion, which has seen nearly 2,000 transactions in the first half of the year. This initiative has increased sales and visibility for the participating stores.

The bank is also supporting morning tea businesses with various loan products to help them expand their operations. Additionally, leveraging the online platform of the Jiangsu Rural Credit Union, the bank has also assisted morning tea merchants in promoting packaged products for free. As of June 30, 2024, this effort has seen two brands listed and approximately 3,000 transactions through live streaming events, generating total sales of 60,000 yuan.