Zhengzhou: New "Nighttime" Business Activities Unlock Economic Vitality

Soaring temperatures have spawned various new "nighttime" business activities such as night bazaars, night culture, and night leisure, making urban life vibrant and giving endogenous power to urban economic development.

The Nighttime Economy: A New Driving Force behind Consumption

The part of life after the "eight-hour working day" has just begun. Ruyi Lake in East District is a site recommended by influencers. The lights at dusk are bright, and restaurants, leisure activities, music clubs, and bazaars scattered around the lake attract many citizens.

Statistics indicate that Zhengzhou's "nighttime economy" is about 180 billion yuan in volume and that nighttime consumption accounts for over 40% of the total retail sales of consumer goods. As of the end of 2018, large business districts in Zhengzhou numbered 10, commercial complexes above the state-designated scale numbered 32, shopping malls numbered 33 and supermarkets numbered 64 in an operating space of over 3.66 million square meters. These businesses generated a total turnover of 30 billion yuan. More than 80% of the large commercial facilities operated after 21: 00, and the sales from 19: 00 to 21: 00 every day accounted for 45% of the full-day sales.

Zhengzhou's Measures for Promoting Consumption, Increasing Vitality and Stabilizing Growth released last year introduced 10 policies to lend support to the creation of new nighttime consumption scenarios. Zhengzhou was rated as one of the "2020 Top 20 Chinese Nighttime Economy Cities" at the "2020 China Nighttime Economy Forum" hosted by China Tourism Academy.

New "Nighttime" Business Activities Unlock Economic Vitality

The hot weather has spawned online consumption and the night economy. According to Alibaba Night Economy Report 2020, online consumption has, contrary to the trend, gone up, and nighttime online consumption on Taobao and Tmall accounts for 40% of the full-day consumption volume. With the diversification of consumer demands, new forms of nighttime online consumption are emerging in sectors like retail, catering, and entertainment.

Insiders believe that currently the nighttime economy, no longer limited to a single form of consumption, is developing in an integrated way. This is mainly due to consumption upgrading: people want better nightlife and more convenient ways of consumption. At the same time, these new "nighttime" business activities have unleashed economic vitality. They are indications that Zhengzhou's economy is racking up wins while ensuring stability.

Copyright by Zhengzhou Municipal Tourism Administration