Government leaders of Guilin officially launch the 2020 Guilin Lijiang Shopping Festival on Aug 5. [Photo provided by Quan Yanhui to chinadaily.com.cn]

The 2020 Guilin Lijiang Shopping Festival officially opened at Guilin MixC Mall on Aug 5 to effectively boost the city's consumer market and stimulate consumption.

The grand event was sponsored by the Guilin municipal people's government and undertaken by the Guilin commerce bureau, the Guilin poverty alleviation office, the Guilin financial office, the Guilin Central Branch of the People's Bank of China (PBC), and China UnionPay's Guangxi Branch.

About 29 key enterprises will launch various exhibitions and sales activities to provide residents and tourists with a three-month consumption feast from Aug 5 to Oct 31.

China UnionPay Guangxi Branch and a number of commercial banks will cooperate with department stores and retail enterprises, issuing consumption coupons worth 4 million yuan ($574,656.92) to greatly benefit the public and promote consumption.

The Guilin commerce bureau and the Guilin poverty alleviation office will promote the establishment of sales counters for products from impoverished areas in five department stores and supermarkets to help poverty alleviation efforts through consumption.

This year's shopping festival, which will also utilize live streaming and online platforms, will launch three main events themed around daily provisions, home appliances, and household items.

Wang Xin, director of the Guilin commerce bureau, said at the launching ceremony that the shopping festival is a specific act to promote the recovery of the consumer market that has been set up by the government, supported by financial institutions, and participated in by a number of commercial and trade enterprises.

Wang also expressed his hope that all business enterprises can seize the opportunity to broaden purchase and sale channels, as well as improve services to provide consumers with high-quality products.