China launched the 2026 "Shopping in China" and New Year consumption season campaign in Shanghai on Saturday, aimed at boosting consumer demand through a series of targeted incentives.
According to the Ministry of Commerce, the organizer of the campaign, a total of 2 billion yuan (about 286 million U.S. dollars) will be allocated to support various promotional activities across 15 pilot cities, including Shanghai, Hangzhou, Wuhan, and Shenzhen.
It is reported that the Shanghai edition of the consumption will continue through early March 2026, offering shoppers discounts, free coupons, and invoice-based lucky draws. Trade-in subsidies will also be available for purchases of new vehicles, home appliances, and digital products.
For international tourists, departure tax refunds, complimentary gifts and instant discounts for foreign card payments will also be provided.
China launches consumption promotion campaign to boost New Year spending
Farmers in India, a major agricultural producer and fertilizer importer, are raising concerns over fertilizer availability ahead of the planting season, as the escalating Middle East conflict and disruptions to shipping through the Strait of Hormuz put global supplies at risk.
The Middle East serves as both a vital energy hub and a major global fertilizer supplier, yet the ongoing U.S.-Israeli war with Iran has heightened risks of disruption to international supplies.
Chand Singh Yadav, a farmer in Haryana, a northern Indian state, said poor crop yields would be disastrous for the country and called on the government to ensure adequate supplies of fertilizers, agrochemicals and seeds to prevent a food crisis. "Without fertilizers, our crops will not grow well, and this would be disastrous for the entire country. If farmers cannot grow crops, people will not be able to buy food in the market. We urge the government to improve the supply system for fertilizers, agrochemicals and seeds to prevent the country and society as a whole from sliding into a food crisis," he said.
The Indian government is stepping up subsidies for farmers and optimizing fertilizer distribution and allocation to stabilize the supply. Prices have remained broadly stable, but demand is expected to surge ahead of the planting season, potentially exacerbating supply pressures.
"The current situation is worrying for us farmers. Spring sowing has not yet started, and the rainy season has not arrived. Fertilizer prices are temporarily stable, but in two months, demand for agricultural fertilizers will become pressing. Without fertilizers, it will be difficult to properly cultivate various types of crops. Urea and diammonium phosphate are especially critical. Crops can only grow normally when these fertilizers are applied. As these fertilizers are largely imported, if the conflict persists, supplies cannot be guaranteed," said Santosh Mishra, a farmer in India's eastern state of Odisha.
Escalating Middle East conflict strains India’s fertilizer supply
Escalating Middle East conflict strains India’s fertilizer supply
