China's Vice Commerce Minister Declares November as China's 'Month of Fine Consumption'

November has been designated as China's official month of fine consumption.

It is time for the China International Import Expo and the Singles Day shopping festival, both of which aim to boost consumption, China's Vice Commerce Minister Sheng Qiuping said at CIIE on Wednesday.

From November 1 to 30, sales promotions focus on shopping, dining, traveling, and attending shows and exhibitions nationwide. It is led by five cities known as China's shopping centers: Shanghai, Beijing, Tianjin, Chongqing, and Guangzhou.

In Shanghai, where the CIIE is taking place, several new products from exhibitors such as L'Oreal, IKEA, and Uniqlo will be shown simultaneously on their online platforms or retail outlets, creating an alternative venue for CIIE for individuals unable to attend the expo in person.

For the first time, tax refund stations have been set up inside the CIIE venue, the National Exhibition and Convention Center (Shanghai).

The Bank of China launched a campaign during CIIE that offered gifts to clients who applied for tax refunds at its 1,600 locations across the city.

The month of good consumption is part of the trade ministry's plan for "Shopping in China."

According to the Ministry of Commerce, consumption accounted for 53.5 percent of China's economic growth in the first three quarters, a jump of 9 percentage points from the previous year, and remains the main driver of economic growth.