In a recent announcement, Hangzhou unveiled new initiatives with the aim of promoting consumption by fostering deeper integration and driving innovative development across various sectors. These measures aim to cultivate and expand new consumer trends, unlocking untapped potential in the market.
Under the new policies, Hangzhou will focus on attracting top-tier institutions and platform enterprises to host large-scale concerts, events, and exhibitions in the city. Organizers in the entertainment, sports, and exhibition industries conducting business in Hangzhou with an annual operating scale exceeding 20 million RMB in the first year will receive a one-time support grant of up to 1 million RMB. Additionally, newly established ticketing platform enterprises with an annual box office scale surpassing 1 billion RMB will receive support equivalent to 1% of their current year's operating scale, capped at 5 million RMB. Organizers of major events can expect support ranging from 15,000 to 60,000 RMB per event. Special events like major concerts, music festivals, high-profile international or national-level events, and globally renowned exhibitions will receive tailored support.
Hangzhou plans to establish an all-in-one "Entertainment, Sports, Exhibition, Business, and Travel" online platform that will offer audiences "Privilege Cards", integrating a range of convenient services, including dining, accommodation, transportation, attractions, shopping, and entertainment.
The new policies also include support for nighttime dining, international exchange initiatives, and initiatives to promote integrated consumption through entertainment, sports, exhibition, business, and travel. Efforts will be made to enhance the convenience of overseas payments, optimize departure tax refund services, elevate the international quality of the consumption environment, and elevate the consumption experience for international tourists.
Source: Hangzhou MICE Tourism