The capital hopes to increase spending on fashion and branded items in the “night economy” by encouraging retailers to extend their opening hours.
Beijing, China – Hebei Province in northern China offers to let workers leave on Friday afternoon, while Beijing urges stores and malls to stay open later at night, as the senior function seeks creative ways to stimulate consumption and support economic growth.
China wants to increase its fashion spending !
The capital hopes to increase spending on fashion and branded goods in the “nighttime economy” by forcing retailers to extend their opening hours, Beijing News reported on Monday, citing the government’s latest labor report. Hebei also wants paid time off and encourages people to take vacations and adopt flexible working hours, the local government said in a two-year plan posted on its website on Jan.10..
Does fashion dictate the economy ?
The Hebei Plan aims to “accelerate the removal of the most direct and significant systematic barriers limiting residential consumption in the province and to foster areas of growth in consumption,” the proposal states..
China looks to domestic consumption to boost growth as trade suffers from the opposite phenomenon, declining factories’ attractiveness and worsening employment prospects threaten the economy. The country is preparing to revive demand for cars this year after the first annual decline in vehicle sales in at least two decades and is committed to boosting demand for home appliances.
Why does extended opening hours matter ?
Experiments with longer pauses gave conflicting results. Perpetual Guardian, a New Zealand company that manages trusts and estates, has found that a four-day work week results in increased productivity, the Guardian reported. However, a two-year experiment to reduce working hours, while keeping employees paid for nurses at a home for the aged in Gothenburg, Sweden, showed that the costs outweighed the benefits..
A creative stimulus for commerce