China’s manufacturing hub proposes Hong Kong-style shopping vouchers to boost slowing economy
- Guangdong announced nine policies aimed at jump-starting spending in commercial districts as well as boosting dining and tourism
- Traditional brick-and-mortar retail and e-commerce platforms are also included in proposed scheme, which is similar to Hong Kong’s consumption voucher scheme
A plan from China’s southern manufacturing hub to offer Hong Kong-style shopping vouchers in an effort to stimulate consumption and spending could kick off a nationwide roll-out, although economists and analysts have questioned the effectiveness of the proposals.
Facing the increasing slowdown in China’s economy, the Guangdong provincial government announced nine policies this week aimed at jump-starting spending in commercial districts as well as boosting dining and tourism, with traditional bricks-and-mortar retail and e-commerce platforms also included.
Additional quotas for new energy vehicles in Guangdong and Shenzhen, as well as changes to the application and qualification process for a car licence lottery were also introduced as part of efforts to boost car sales.
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Hong Kong consumer watchdog: be careful about purchases through e-consumption voucher scheme
Authorities also encouraged the cultivation of international and regional consumer cities in line with similar nationwide campaigns, while rewards for cities with outstanding performances were also proposed.
