Nomura's chief economist in China, Lu Ting, personally witnessed the "Suo Chao" scene: "Suo Chao" creates new consumption scenes and provides new ideas for boosting domestic demand.
This year, the Jiangsu Urban Football League has become popular, attracting widespread attention, including from Dr. Lu Ting, the Chief Economist of Nomura China who is from Nantong, Jiangsu. Recently, he returned to his hometown and watched the match between Nantong and Suqian teams at the Nantong home stadium. Dr. Lu Ting said: "The most impressive thing for me was that both teams' players were very serious throughout the match, with no slack moments. The local organization was also good and everything was orderly." Dr. Lu Ting stated: "When the economy reaches a certain stage of development, the people will have a demand for consumption and entertainment, which will drive demand through supply. 'Su Super League' is a good example. The economic development level of various cities in Jiangsu is relatively balanced, with industries and companies that they can be proud of, as well as their own unique historical and cultural heritage. Fans have a high level of enthusiasm due to their regional identity, which leads to sustainability. The success of 'Su Super League' is to a significant extent the success of the cultural and tourism industry. The Jiangsu provincial government not only has creativity but also a very good vision. The success of 'Su Super League' has very profound significance, as it once again confirms some of the successful experiences of China's reform in the past few decades. Other cities and regions in China can refer to 'Su Super League', but they must develop their own characteristics and manage expectations well."
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