China has launched a 2.05-billion-yuan ($289 million) consumer incentive program to stimulate Spring Festival shopping, marking one of 2026's most significant economic mobilization efforts ahead of the Lunar New Year celebrations. The initiative, announced on February 12 by Vice Commerce Minister Sheng Qiuping, aims to revitalize domestic consumption through coordinated subsidies and promotional activities nationwide.
Three-Pronged Economic Strategy The 'Happy Shopping for the Chinese New Year' campaign features trade-in subsidies for electronics and home appliances, invoice lottery rewards for retail purchases, and direct financial support through digital vouchers. Local governments will distribute funds through popular red envelope giveaways and mobile payment platforms during the nine-day holiday period.
Urban-Rural Economic Alignment Sheng emphasized the program's dual focus on city commerce hubs and rural supply chains, noting: 'This holiday consumption drive will strengthen production-distribution linkages while improving festive supply security.' The move comes as China intensifies efforts to stabilize economic growth through domestic demand.
Analysts suggest the timing leverages traditional peak shopping periods, with Spring Festival travel expected to surpass 2025 levels. The incentives align with broader economic planning outlined in China's 14th Five-Year Plan, currently in its final implementation phase.
