Shanghai Double Five shopping festival will further boost customer consumption
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The Shanghai Double Five shopping festival, part of an event that runs through the month to spur consumption, kicked off in Shanghai on the first day of the May Day Holiday.
The shopping festival, similar to the popular Double Eleven shopping festival, is jointly organized by the Ministry of Commerce (MOFCOM), China Media Group (CMG), and the Shanghai Municipal Government.
The festival was launched in May last year by the Shanghai Municipal Government, aiming to boost consumption through e-commerce platforms. E-commerce giant Alibaba and startup Pinduoduo and other brands joined last year's event.