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Local Governments To Boost Consumption Via Coupons

CHINA PRESS
MNI (Singapore)

Local governments are issuing consumer coupons to boost year-end spending, but the key to expanding domestic demand lies in increasing income, Yicai.com reported. Jiangsu province has issued about CNY500 million in consumption vouchers, with 47 cities and counties in the region releasing 128 fiscal support policies to promote sales. Shanghai has issued CNY1 billion in digital coupons, while Shenzhen city will subsidise 15% of the purchase price of household appliances, Yicai said. It is necessary to increase residential income through multiple channels, increase consumption loans, support enterprises with a strong ability to provide jobs, and alleviate the impact of rising prices on the poor in a timely manner, the newspaper said.

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