China's film bureau and the country's monetary authorities have announced plans to hand out movie coupons worth 30 million yuan in digital yuan for consumption during the upcoming Spring Festival holidays.
A total of 11 banks, including Industrial and Commercial Bank of China, China Agricultural Bank and Bank of China, will join the distribution of consumption vouchers in the film market, and the move is expected to help increase the box office by stimulating consumer spending on movie tickets, the bureau said during a promotional event held in Suzhou, East China's Jiangsu Province.
The promotional event initiated just three days before the Chinese Lunar New Year's Eve which falls on February 9, aiming to offer favorable discounts to moviegoers and help create a hot consumption atmosphere.
During the event, the local bureau also said that more than one million yuan of digital currency will be distributed to moviegoers in Suzhou, who will be only required to pay 1.88 yuan to obtain a movie coupon worth 25 yuan.
The giveaways will be mainly distributed through scooping special discounts, coupons and virtual red envelopes, or "hongbao," a traditional Chinese practice of gifting money.
