Caixin
May 03, 2022 08:12 PM
BUSINESS

Local Governments Again Break Out the Coupons to Boost Consumer Spending

Authorities in Shenzhen are offering coupons for 15% discounts on certain electronics and appliances made by major manufacturers such as Huawei, Midea and Lenovo. Photo: VCG
Authorities in Shenzhen are offering coupons for 15% discounts on certain electronics and appliances made by major manufacturers such as Huawei, Midea and Lenovo. Photo: VCG

China’s local governments have begun offering billions of yuan worth of coupons to boost consumer spending, in an effort to help businesses feeling the pain of China’s Covid-19 outbreaks over the past two months.

The measure comes as China’s economy faces some of the greatest strain it has experienced since the initial wave of outbreaks in early 2020 — a time when local governments also offered coupons — as strict lockdowns across the country have disrupted business and everyday life.

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