Jiangsu posts year-on-year growth in retail sales in 2023

East China’s Jiangsu province recorded a 6.6% year-on-year increase in total retail sales of consumer goods from January to November 2023, latest statistics show.

Nanjing Xinjiekou-based Jike Auto Experience Store has attracted numerous consumers with its beautiful appearance and excellent performance, as well as the car purchase subsidies released by Nanjing.

The end of the year is the peak season for automobile consumption. Nanjing has released the second round of automobile consumption subsidy policies by providing cash subsidies to car buyers, further promoting the consumption upgrade of automobiles, especially new energy vehicles.

“The electric vehicle market has been developing quite well recently. According to the salesperson, they provide a purchase subsidy of 5000 yuan per vehicle, so I came here to take a look,” said a car buyer.

“Since the issuance of consumer subsidies, more and more customers have come to the store to make inquiries, and even users who do not have a car purchase plan at the end of the year have come over to take a look at new energy vehicles. We have very robust sales,” said Wang Weiqi, Manager of Nanjing Jike Auto Experience Store.

In addition to focusing on green consumption areas such as new energy vehicles, Nanjing has recently launched the Winter Consumption Festival by launching a series of over 500 consumer promotion activities over a period of more than two months, with more than 3 billion yuan of discounts.

Jiangsu has launched its first pilot program for exit tax refunds in Nanjing, effectively promoting secondary consumption by expats and helping to build an international consumption center city

“In the next step, we will take improving the internationalization level of consumption as the core, and take solid steps towards expanding the opening up of the service industry with a wider range and scope of pioneering efforts,” said Wei Chao, Secretary of the Party Group and Director of the Commerce Bureau of Xuanwu District, Nanjing City.

Since the beginning of 2023, more and more first stores have opened in Suzhou. The HADO technology sports project, which has become popular worldwide recently, has opened its first store in Jiangsu in Suzhou Industrial Park. By wearing AR equipment and sensors, you can start a 1V1 battle.

Various types of first stores have chosen to settle in Suzhou, enabling Suzhou to surpass cities such as Xi'an, Chongqing, and Zhengzhou in four years and become one of the top ten first store cities.

“Developing the first store economy is not only a consideration for enhancing the level of urban commercial development to meet the high-quality consumption needs of citizens, but also an important strategic measure to accelerate the cultivation and creation of an international consumption center city to better serve the construction of a new dual circulation development pattern,” said Tu Lifeng, Vice Dean of Dongwu Think Tank, Soochow University.