Consumption bolsters economic growth in Fujian
Fujian-headquartered supermarket operator Yonghui has been actively promoting non-cash payment services at brick-and-mortal stores across the country. Thus far its online service app has garnered 150 million users across the country.
Yonghui has teamed up with tech behemoths such as Tencent, as it looks to leverage technologies such as big data and facial recognition to increase economic growth.
Rural e-commerce is also boosting consumption power in rural areas in Fujian.
Statistics show that in the first half of the year, the total retail sales of consumer goods in rural areas of the province reached 72.28 billion yuan, a yearly increase of 12 percent.
The per capita disposable income of the province's rural residents was 9,308 yuan, an increase of 7.7 percent in real terms after deducting price factors, 1.2 percentage points higher than that in urban areas. The scenario indicates a strong consumption market in rural areas, noted Tang Jie, associate professor of economics at Fujian Normal University, adding that more new products and services should be provided in those areas.