Core Viewpoint - The 2026 Spring Festival holiday in China showcased strong consumer vitality, with significant participation from China UnionPay in promoting consumption and ensuring smooth payment services, aligning with national strategies to boost consumption and domestic demand [1][2]. Group 1: Policy Response - China UnionPay launched the "Happy Shopping Spring" campaign during the Spring Festival, collaborating with commercial banks to provide efficient payment services across various sectors, ensuring that fiscal subsidies effectively reach consumers [2]. - The initiative included activities like "trade-in for new" to stimulate offline consumption and introduced prize invoices as a new consumption driver, enhancing the integration of diverse consumption scenarios [2][3]. Group 2: Consumption Trends - Payment transactions during the Spring Festival reached 39.302 billion, totaling 13.12 trillion yuan, with daily transaction volume and amount increasing by 37.45% and 19.26% year-on-year, respectively [3]. - There was a notable shift back to offline consumption, driven by trade-in activities and promotional offers, which significantly boosted foot traffic in physical stores [3][4]. - AI home appliances emerged as popular purchases during the festival, reflecting a shift towards smarter living, supported by government subsidies and increased consumer willingness to spend [4]. - The return of young people to their hometowns during the Spring Festival highlighted the consumption potential in lower-tier markets, with significant growth in sales of large appliances [4]. Group 3: Innovation in Consumption - The rise of "ticket root economy" during the Spring Festival activated diverse consumption potentials, with various cultural and tourism activities being promoted through partnerships with local governments [5][6]. - The introduction of prize invoices became a hot topic among consumers, with a pilot program covering 84 cities, enhancing consumer engagement and stimulating spending [6]. - New consumption initiatives, such as the "Play and Earn Spring Festival" campaign, successfully engaged millions of users and drove substantial transaction volumes during the holiday period [6].

Core Viewpoint - The launch of the "Nihao China" app by China UnionPay aims to enhance the convenience of inbound tourism in China by providing a comprehensive digital service platform for foreign visitors, covering payment, travel, and lifestyle needs [1][2]. Group 1: App Features and Services - The "Nihao China" app integrates various practical functions centered around payment and travel, facilitating a seamless experience for international tourists [6]. - The app supports international credit cards such as UnionPay, Visa, and MasterCard for both online and offline payments, covering high-frequency consumption scenarios like transportation, accommodation, and shopping [9]. - It provides travel services across 43 major cities and over 1,760 county-level cities in China, enabling "one-code access" for public transportation and offering navigation to nearby ATMs and currency exchange points [9]. Group 2: Technological Innovations - The app features a high-efficiency and secure account opening process through layered verification and rapid card issuance, ensuring a smooth onboarding experience for users [5]. - It includes real-time currency exchange rates for over 160 currencies, addressing cross-currency payment challenges [9]. Group 3: User Experience Enhancements - The app incorporates real-time translation tools and multi-language support to eliminate language barriers, enhancing communication for foreign visitors [10]. - It offers personalized recommendations based on user preferences and habits, assisting tourists with inquiries about attractions, transportation, and dining options [10]. Group 4: Strategic Partnerships - The travel card service within the app is a collaborative innovation between Shanghai Bank and China UnionPay, reflecting a strategic partnership aimed at improving payment convenience for inbound tourists [5]. - Shanghai Bank plans to continue its collaboration with China UnionPay and other stakeholders to further enhance the app's services and user experience [10].