Hangzhou Municipal Bureau of Commerce has recently released four enforcement regulations to promote consumption and accelerate rebound of the consumption market. The four regulations involve four consumption promotions, namely, providing subsidies for purchasing new energy vehicles, strengthening support for wholesale, retail, accommodation and catering industry, attracting foreign brands to open the first shop by leveraging the resource advantages of a region and encouraging manufacturing enterprises to establish sales companies.
In term of new energy vehicles, all individuals who are not included in the credit blacklist, may obtain the subsidy for purchasing eligible new energy vehicles in the administrative region of Hangzhou from June to December, 2022. A subsidy of 10,000 yuan, 6,000 yuan and 2,000 yuan will be provided for the purchase of the new energy vehicle at the price (excluding relevant taxes) of above 300,000 yuan, 200,000-300,000 yuan and below 200,000 yuan respectively. The vehicle dealers will be responsible for applying for the subsidy for the consumers. The subsidy can be applied and acquired online via "Qinqing Online" platform, and the time of application shall be from July, 2022 to January, 2023.
As for the wholesale, retail, accommodation and catering enterprises, Hangzhou encourages enterprises to take multiple measures to promote consumption and provide rewards for the enterprises based on their quarterly sales and monthly retail sales. In addition, a reward of 1 million yuan and 600,000 yuan will be provided for any operator who introduces the first flagship shop of any international top grade brand and any international first-tier brand respectively that are incorporated into the statistics of retail sales above the designated volume.
With regard to the manufacturing industry, a reward of 250,000 yuan will be provided for every 100 million yuan retail sales of commodities in 2022 for manufacturing sales companies that are newly established in Hangzhou in 2022 and are incorporated into the statistics of retail sales above the designated volume. For companies that were established before 2022 and after 2020, a reward of 5% of the increased retail sales from the previous year will be provided if the companies’ year-on-year growth in 2022 is above 7%.