Retail spending, the engine of China’s economic growth, plunged 20.5 per cent in the first two months of this year from a year earlier due to the coronavirus. Photo: AFP

Coronavirus: China trying vouchers to boost consumer spending, but effort modest compared to HK, US

  • Local governments across China have begun handing out prepaid vouchers to boost consumer spending disrupted by coronavirus containment measures
  • But the direct handouts are much smaller than direct stimulus packages announced in Hong Kong and planned in the US
Topic |   China economy
Retail spending, the engine of China’s economic growth, plunged 20.5 per cent in the first two months of this year from a year earlier due to the coronavirus. Photo: AFP
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