CHINA-ECONOMY: COUPONS/VOUCHERS ISSUED TO REVIVE ECONOMY
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China Daily and Beijing News reported (April ) that more regions are releasing numbers on their voucher programs: The city of Zhengzhou said it issued RMB 50 million of vouchers on April 3 – leading to consumption of RMB 187 million over the holiday weekend; The city of Jiaxing issued RMB 30 million of vouchers recently – and within four days it led to consumption of RMB 230 million; and six days after Shenzhen issued a spate of vouchers – consumption in the city grew 30 times the vouchers’ original value. A spokesman for the Ministry of Commerce told the 21st Century Biz 2 that thanks to widespread voucher issuance, nationwide retail, delivery, and e-commerce are up to 95 percent of ‘normal’ purchases. Vouchers are primarily being distributed via WeChat and Alipay. In this case, private-public partnerships are proving to be symbiotic.
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