(Yicai Global) Aug. 18 -- Shanghai intends to distribute electronic coupons worth a total of CNY1 billion (USD147 million) from this month through November to spur consumer spending in the eastern Chinese megacity.

Under the banner of ‘Enjoy Shopping in Shanghai,’ the first coupons will be available from Aug. 26 via online application and lotteries, the Shanghai Observer reported.

They can be used within 20 days at qualified physical and online vendors in the retail, food and beverage, culture, and tourism fields, and may be used in combination with vouchers from participating shops and e-commerce platforms.

Shops in the city with the technology to handle e-coupons can apply to take part, said Liu Min, deputy director of the Shanghai Municipal Commission of Commerce.

Consumer spending in China slowed last month, with retail sales climbing 2.7 percent from a year earlier, missing the 4.8 percent forecast of economists polled by Yicai Global and following a 3.1 percent clip in June.

The first batch of Shanghai’s e-coupons, worth CNY200 million (USD29.5 million), will consist of CNY100 (USD15) packets of a CNY50 (USD7.50) voucher to use on spending over CNY100 and two CNY25 vouchers toward payments of more than CNY50.

The CNY500 million second batch will be released around the National Day holidays in early October, while the third, totaling CNY300 million, will be handed out in late November.

Many are expected to be used during the important national holidays of the Mid-Autumn Festival and the week-long National Day break, as well as the biggest annual e-commerce sales event, the Double 11 Shopping Festival, Liu said.

The city government is encouraging e-commerce platforms and shops participating in the e-coupon event to invest more money and resources to offer their customers more discounts, Liu added.

Editor: Futura Costaglione