As the Lunar New Year approaches, a nine-day extended holiday period is igniting long-accumulated consumer enthusiasm, with surging flight and hotel bookings, packed reservations for reunion dinners, and advance ticket sales for holiday blockbusters kicking off.
Behind the robust holiday demand, a supportive consumer finance environment is playing a key role in stimulating market vitality. On February 11, a press conference was held to outline the 2026 “Happy Spring Shopping” campaign and measures to ensure supply during the holiday period.
The People’s Bank of China and the National Financial Regulatory Administration have guided financial and payment institutions to collaborate with merchants in rolling out a variety of promotional offers. These cover multiple consumption scenarios, including travel, dining, and entertainment.
Major state-owned banks have quickly mobilized. A review of holiday promotion plans reveals that these banks are deeply embedded in the entire Spring Festival consumption chain—from leveraging Hainan’s duty-free policy to tapping into northern ice and snow tourism, from local food festivals to themed travel packages, and from online e-commerce discounts to in-store instant rebates.
**Deepening Cultural Tourism and Dining: Scenario-Based Finance Drives Holiday Economy**
Travel, family gatherings, and leisure activities are central to Spring Festival spending and have become a key battleground for banks’ scenario-based services. State-owned banks are using refined strategies to unlock additional consumption.
Industrial and Commercial Bank of China Limited has introduced over 60 promotional activities spanning dining, accommodation, transport, cultural tourism, shopping, and entertainment. These include instant discounts on 12306 and DiDi rides, cooperative campaigns with Fliggy and Meituan offering “random 1-cent tours” and extra hotel booking subsidies, as well as city-wide merchant discount programs.
Agricultural Bank Of China Limited’s credit card division has built its campaign around six consumption scenarios—transport, shopping, travel, dining, entertainment, and daily use—offering instant discounts, cashback, point redemptions, and interest-free installments. Cardholders can enjoy benefits such as fuel spending rebates, air ticket discounts, and reduced prices on hotel bookings and local attractions via Ctrip. Additional offers are available on Meituan, Douyin, and Maoyan for food delivery, group purchases, and movie tickets.
Bank of China has adopted a regional cultural approach. Its travel promotion now covers 30 provinces and 108 cities, partnering with more than 370 famous food streets and cultural districts. During the holiday, the bank is organizing local themed events such as Lingnan Culture Festival, Northern Ice and Snow Season, and Shaanxi Cuisine Fair, integrating financial services with local tourism.
China Construction Bank Corporation recently launched its 2026 Spring Festival consumption drive, structured around “Five Blessings” and featuring 15 promotional activities. These include dining and supermarket vouchers for wealth management clients, movie ticket buy-one-get-one offers, and family-friendly discounts at Disneyland Shanghai and ice rinks nationwide.
Ice and snow tourism has become a holiday highlight. As an official partner of the first Heilongjiang Ice and Snow Sports League, Bank of Communications Co.,Ltd. has teamed up with ski resorts, restaurants, and travel agencies to offer credit card discounts on tickets, flights, and dining, providing end-to-end travel benefits. One tourist from Shenzhen reported saving significantly through credit card promotions.
Postal Savings Bank Of China Co.,Ltd. has infused a cultural touch into its services, with branches hosting activities like paper-cutting, calligraphy, and traditional games. In rural areas, its “Quick Loans” have helped small shop owners stock up for the holiday rush, demonstrating the bank’s community-oriented approach.
**Trade-In Programs Gain Momentum: Banks Amplify Government Subsidies**
Beyond immediate consumption, another key theme of this year’s Spring Festival spending is “renewal.”
Consumers are upgrading to double-door refrigerators, trading in old smartphones, and switching to new energy vehicles, encouraged by extended government subsidies for home appliances, electronics, and automobiles in 2026.
Agricultural Bank Of China Limited is collaborating closely with e-commerce platforms. Cardholders can stack government subsidies with bank discounts when trading in products on JD.com and Douyin, and enjoy interest-free installments for up to 24 months on electronics.
China Construction Bank Corporation is linking trade-in offers with home renovation financing, supporting consumers upgrading single items or refreshing entire homes. Its “Home Upgrade” campaign provides special rebates for spending at partnered home improvement stores, along with enhanced rewards for customers using the bank’s consumer loans.
Industrial and Commercial Bank of China Limited is offering both in-store promotions and online installment discounts via JD.com. It has also set up a dedicated trade-in section on its e-living platform, integrating local subsidy applications and branch-specific discounts for a seamless consumer experience.
Hainan Free Trade Port has emerged as a special arena for trade-in activity following its customs closure policy. Bank of Communications Co.,Ltd.’s Hainan branch is offering coupons for appliances and electronics, applicable after government subsidies. One Haikou resident saved over 1,500 yuan on a television purchase using the combined offers.
The bank indicated that further discounts and installment plans will be introduced both online and offline, catering to rising duty-free shopping and cross-border consumption demand post-customs closure.
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