Shanghai experiences booming nighttime economy
This summer, late-night snack which is deeply rooted in Chinese food culture gained even more popularity in East China's Shanghai.
According to statistics, nowadays a whopping 90 percent of food delivery businesses are active late into the night in the city. Of these, 49 percent have seen a year-on-year increase in their revenue – with the rise said to be attributed to tourism and Shanghai's vibrant nightlife festivals.
Back in 2019, China's State Council issued a circular emphasizing the importance of fostering nighttime commercial activities to benefit consumers.
In the wake of that, over the past four years the late-night economy has boomed, with nighttime spending estimated to now exceed 50 percent of daily consumer expenditure in many urban areas. Of that, spending on late-night snacks dominates, accounting for over 48 percent of total consumption.
In general, late-night hours – 8 pm to 4 am – are said to serve as a critical metric for the nighttime economy. Moreover, latest statistics show a thriving nighttime economy in China, with a 15 percent year-on-year increase in businesses operating during these hours.
Notably, Shanghai takes the lead in revenue growth, only coming second to the city of Lijiang in Southwest China's Yunnan province.