Spring Festival Coupons Boost Consumption - Securities Times

Local governments have increased the use of consumption coupons to increase spending during the Spring Festival, according to the Securities Times. Authorities are offering coupons through partnerships with big-tech shopping platforms, and experimenting with issuing the digital RMB, the paper said. Citing experts, the paper believes the vouchers can achieve targeted consumption objectives, with food, accommodation, travel, shopping and entertainment the sectors benefiting the most from the schemes. Zhejiang province expects to issue more than CNY1.6 billion of consumer coupons in total, the paper said.