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INVESTMENTOPPORTUNITIES

Vietnamese PM urges ministries to study China's nighttime economy policy

Updated at Sunday, 21 Jul 2019, 13:19
The Hanoitimes - The Chinese government has implemented policies to spur nighttime economy, including directly subsidizing the service and business activities from 8.pm to 6.am the following morning.
Vietnam’s Prime Minister Nguyen Xuan Phuc has requested relevant ministries and localities including the Ministries of Planning and Investment, Finance, and Industry and Trade, central provincial and municipal People’s Committees to study the Chinese policy on promoting the night economy, VnExpress reported.
 
Shanghai at night. Illustrative photo.
Shanghai at night. Illustrative photo.
Accordingly, the Chinese government has implemented policies to spur its nighttime economy, including directly subsidizing the service and business activities from 8.pm to 6.am the following morning. The move of the Chinese government aims to reverse the ongoing economic downturn due to the escalating trade war with the US.

The first places to be subsidized to promote night economy are 10 streets with late-night catering, 16 night markets and 24/7 convenient stores in Beijing. Night stores and restaurants in the city operating from 8.pm to 6.am the following morning will receive around US$70,000 from the government while other commercial establishments working through at least 12 hours will be financed US$700,000, Zing News reported.

Besides, other public transportation services are also asked to work sleeplessly including the electric railway system downtown, which will see its frequency and operating time increased. From May to October in Beijing annually, public transportation expands their operational time to around one and a half hours on Friday and Saturday, especially some routes running through bustling streets at night.

To make the night economy safe, Beijing has installed more surveillance cameras and tightened security at some trade centers. Online ride-hailing services also integrate some applications and hotlines for receiving visitors’ alerts at night.

Besides Beijing, a series of big cities in China namely Shanghai, Tianjin and Nanjing, among others, have also implemented various measures to spur the night economy through cash subsidies over the past two years.
Ha An
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