Visitors walk through the Yuyuan Garden in Shanghai on October 2. Photo: Bloomberg
Visitors walk through the Yuyuan Garden in Shanghai on October 2. Photo: Bloomberg
Shanghai

Can ‘peanuts’ save Shanghai’s Covid-ravaged retail sales and economy?

  • The municipal government is dangling 1 billion yuan (US$140.5 million) in e-coupons via a lottery system to help revive consumer spending
  • Shanghai’s economy shrank 5.7 per cent in the first six months and is likely to end with zero growth for the year, versus an earlier target of 5.5 per cent expansion

Visitors walk through the Yuyuan Garden in Shanghai on October 2. Photo: Bloomberg
Visitors walk through the Yuyuan Garden in Shanghai on October 2. Photo: Bloomberg
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