Changsha Ranks 3rd Among China's Top 10 Most Influential Cities of Nighttime Economy
A report on Chinese cities’ night economy Influence (2020), compiled by the Liaowang Think Tank and Tencent, was officially released on January 20. It announced that Changsha Ranked 3rd among China's Top 10 Most Influential Cities of Nighttime Economy.
The Liaowang Think Tank and Tencent set up a research group in 2020. Based on extensive field research and with the help of tools like big data, the group analyzed 50 target Chinese cities from four dimensions – communication ability, innovation strength, industrial scale and business circle flow.
Chongqing, Chengdu, Changsha, Qingdao, Beijing, Xi’an, Shanghai, Shenzhen, Guangzhou and Wuhan were selected as China's Top 10 Most Influential Cities of Nighttime Economy. Chengdu, Qingdao, Shijiazhuang, Changsha, Wuhan and Hohhot were rated as innovative cities for nighttime economy.
Consumption has been the No. 1 “main engine”, driving China's economic growth for six consecutive years. China introduced a new round of consumption promotion policies in 2020. Among them, cultivating nighttime economy has become a key move, and the "golden key" to boost consumption recovery.
Statistics showed that during the May Day holiday in 2020, nighttime consumption across the country accounted for 29.92% of total incomes for the whole day. In cities such as Chongqing, Changsha and Chengdu, nighttime consumption accounted for more than 50%.
Changsha’s nighttime economy still grew despite the epidemic. Changsha held the first “Night Star City" Consumption Festival from July 2020 to October 2020. Nearly 13,000 businesses were directly involved, generating a total business revenue of 27.97 billion yuan, up 20.45% year on year.
In recent years, Changsha’s nighttime economy has developed from night markets and stalls to a diversified nighttime consumption market, which integrates food, travel, shopping, entertainment, sports, exhibition, and performance. The main consumers, and consumption type, expectation and environment have undergone great changes.
Changsha issued an implementation plan for accelerating the development of nighttime economy. In addition to promoting nighttime shopping at business areas, Changsha also made arrangements for nighttime food, tours, entertainment, travel, and accommodation. For example, it has planned 50 catering streets featuring late-night canteens, and 30 squares for cultural activities.
Translator: Kuang Zhenzhen
Chinese source: changsha.gov.cn
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