Many places have issued billions of consumer vouchers to promote consumption

Many places have issued billions of consumer vouchers to promote consumption, and so far, many places across the country, including Guangdong, Shanxi, Guizhou and other places have issued vouchers to cover a number of key areas. The company's website has been updated with the latest information on the latest developments in the consumer market. Previously, Guangdong Province, said to encourage the issuance of consumer vouchers, many places to promote consumption issued "billion" consumer vouchers.

As one of the "ballast stones" to stabilize the economy, promoting consumption has become an important part of growth stabilization across the country.

On May 26th, Shenzhen released a number of measures to promote the sustained recovery of consumption, involving automobiles, electronic products, home appliances, culture, sports and tourism, commodities and other consumer areas. This measure not only responds quickly to the State Council's "Opinions on Further Releasing Consumption Potential and Promoting the Continuous Recovery of Consumption", but is also another powerful measure to promote the stable development of economy and society after the epidemic in Shenzhen this year has become stable and controllable.

Consumption is the final demand, is the key link and important engine to smooth the domestic cycle, and has a lasting pulling power on the economy. By the epidemic and other factors, the current consumption recovery is slow, small and medium-sized enterprises and the service industry are facing more severe challenges. How to further boost consumer confidence and release the potential of consumption is one of the focuses of economic work around the world this year.

In the past month, at least 16 provinces and nearly 30 regions have introduced measures to promote consumption, and plans to invest in the issuance of consumer vouchers, shopping subsidies and other total amount of more than 5 billion yuan. Overall, this round of measures to promote consumption around the world, showing four major features: First, the amount of subsidies is large, many places are in the billions of dollars or more; Secondly, to encourage automobiles, home appliances, home furnishings and other traditional areas of consumption, is the round of measures to promote consumption of the "main event", in particular, to promote the consumption of new energy vehicles, almost become a measure of the local "

Thirdly, many places have proposed to develop new forms of consumption and cultivate new types of consumption, such as Beijing, which has put forward specific measures around "cultivating new patterns of consumption", and Sichuan, which has also launched an action plan for the cultivation and development of new consumption; fourthly, many places such as Beijing, Shanghai, Guangdong and other cities have proposed to develop new forms of consumption and cultivate new types of consumption. Beijing, Shanghai, Guangdong and other places are accelerating the construction of consumption upgrade platform, Shenzhen has also recently proposed to build an international consumption center city.

As early as April this year, Shenzhen announced that through the Meituan and Jingdong platforms, 500 million yuan of consumption vouchers would be issued to Shenzhen consumers one after another, including 400 million yuan of shopping vouchers, 60 million yuan of catering vouchers, 10 million yuan of tourism and sports vouchers, and 30 million yuan of digital RMB red packets, and clear guidelines on the use of the vouchers, which is a strong and well-intentioned effort.

Whether it's Shenzhen, or other provinces and cities, the most direct way to boost consumer confidence and promote consumption is undoubtedly to "send money" to every consumer, so the current various types of vouchers, shopping subsidies to a certain extent can play a role in promoting consumption.

However, consumption coupons or subsidies, can only play a role in guiding consumption, the consumer's willingness to consume the strong and weak, the fundamental is still in the pocket of the amount of RMB. Therefore, to fundamentally promote consumption, we need to promote employment and income, improve social security measures, eliminate systemic barriers in the field of consumption and other aspects of a comprehensive effort, so that consumers have money to spend, willing to spend money, dare to spend money, in order to really continue to promote the growth of consumption.

Many places have issued billions of dollars in consumer vouchers to promote consumption.2

"Buying a computer is equivalent to a 15% discount." Li Tao, who works in a state-owned enterprise in Shenzhen, told CNN that he has wanted to buy a computer for a long time, and this time he intends to take advantage of Shenzhen's issuance of consumption vouchers to get his hands on it directly.

"The laptop (computer) I'm looking at is in the list of products for the subsidized activities, and I'll go fill out the application form in the next two days." Li Tao said that after seeing the new policy, many people around him are a little "stupid".

Multiple vouchers for promotional fees

Li Tao said the "new policy", referring to the 26th release of the "Shenzhen City on the promotion of sustainable recovery of consumption of a number of measures". The policy proposes that consumers buy eligible cell phones, computers (including tablet PCs), headphones, stereos and other products, according to the sales price of 15% of the subsidy, the maximum cumulative amount of 2000 yuan per person.

In addition, the policy says that between May and August, subsidies will be given to consumers for the purchase of eligible household appliances such as televisions, air-conditioners, refrigerators, washing machines, and so on, in accordance with 15% of the sales price, up to a cumulative maximum of RMB 2,000 per person.

According to the incomplete statistics of China's new economic latitude and longitude, up to now, the country has been including Guangdong, Shanxi, Guizhou and other places have issued consumption vouchers, covering a number of key areas.

Previously, Guangdong Province said that it encourages localities to issue consumption vouchers for consumption in retail, catering, culture and tourism, lodging, and sports to enliven the consumer market. Among them, the municipalities in the northwest of Guangdong Province should not issue less than 5 million yuan of consumption vouchers, and encourage the municipalities in the northwest of Guangdong Province to increase the amount of consumption vouchers issued, and to subsidize the excess of the base portion in the proportion of 70%.

Guizhou will also start issuing 140 million yuan of retail, cultural and sports and catering vouchers on May 30, mainly divided into two categories: "retail cultural and sports vouchers" and "catering vouchers".

Taiyuan, Shanxi, on the basis of 120 million yuan of consumption vouchers in the previous period, will again raise 420 million yuan to issue consumption vouchers to promote a steady rebound in consumption, focusing on accommodation and catering (including commercial complexes), retail general, household appliances and home appliances, the online general, culture and tourism, automobiles and other areas of the consumer vouchers.

Chengdu, Sichuan Province, has issued consumer vouchers to promote consumption activities, while mobilizing financial institutions and merchants to superimpose preferential activities. This is the first time this year that Chengdu has issued consumer vouchers on a large scale for the whole city, covering key retail and catering enterprises as well as individual entrepreneurs in Chengdu.

Subsidies for car purchases

Recently, Changchun, Jilin, released a policy saying it will issue 50 million yuan in auto consumption subsidies for individual consumers who buy cars in the city, lasting until September 21st.

"My own family's old car can still be driven for some more years, but I feel that if I replace it with a new one now it should be more cost-effective." Liu Min of Changchun, who just retired last year, told CNN that she might consider getting a new car in the near future, taking advantage of the recent subsidies given for buying cars.

Recently, the domestic auto companies production, market sales due to the epidemic has been affected to some extent. According to data from the China Association of Automobile Manufacturers (CAAM), domestic auto production and sales in April were 1.205 million and 1.181 million, respectively, a year-on-year and year-on-year decline of nearly 50 percent.

The FAW pointed out that since April, some enterprises have stopped work and production, logistics and transportation are facing greater obstacles, production and supply capacity has declined sharply; at the same time, consumer spending power and confidence has declined significantly, and the industry's task of stabilizing growth is very arduous.

On May 23, the State Council executive meeting decided to phase in part of the passenger car purchase tax reduction of 60 billion yuan. In this regard, Societe Generale Securities research report pointed out that this round of phased reduction of the purchase tax is estimated to have a significant effect on the growth of passenger car sales in the second half of 2022.

"Purchase tax reduction is one of the most effective policies to boost car sales." CITIC Securities pointed out that the strength of the policy exceeded market expectations, and is expected to pull 1 million -2 million passenger cars new demand."

In addition, CITIC Securities also noted that some regions have recently mentioned policies for the purchase of cars can enjoy additional subsidies.

Hubei Province released a policy that said the scrapping of old cars and the purchase of new energy vehicles subsidized 8,000 yuan / vehicle, the purchase of fuel cars subsidized 3,000 yuan / vehicle; transfer out of the old car and the purchase of new energy vehicles subsidized 5,000 yuan / vehicle, the purchase of fuel cars subsidized 2,000 yuan / vehicle.

Shenzhen mentioned that the new acquisition of eligible new energy vehicles and individual consumers licensed in Shenzhen City, the maximum subsidy of up to 10,000 yuan / unit.

Qingdao, Shandong Province, proposed that when buying a car, according to different models of different prices, you can enjoy a one-time subsidy of 3,000-10,000 yuan.

Ningbo, Zhejiang also introduced automobile consumption coupons,*** divided into full 100,000 yuan minus 3,000 yuan, full 150,000 yuan minus 5,000 yuan two kinds, applicable to offline purchase of new car consumption scenarios.

"As the epidemic eases, more cities are expected to introduce relevant stimulus policies. Some cities may further increase the car purchase index." Ping An Securities said that first-tier cities have a large demand for car purchases, and the proportion of replacement purchases is also high, with a large consumption potential, and the increase in car purchase targets is expected to release the consumer demand in the automotive market.

Experts: can quickly pull consumer willingness

On April 25, the General Office of the State Council issued the "on further releasing the potential for consumption to promote the views of a sustained recovery of consumption", which mentioned that, to cope with the impact of the epidemic to promote the orderly restoration of the development of consumption; comprehensive innovation to improve the quality of the focus on stabilizing consumption of the basic plate.

"In April, the local epidemic more frequent, residents go out to shop, dining to reduce, non-essential goods sales and catering industry by the obvious impact." On May 16, Fu Gachi, a statistician at the National Bureau of Statistics' Trade and Foreign Economy Department, pointed out when interpreting the data on total retail sales of consumer goods in April that total retail sales of consumer goods in April declined by 11.1% year-on-year, of which retail sales of commodities declined by 9.7%.

Fu Jiaqi said that the market sales in April fell significantly mainly due to the short-term impact of the epidemic. In addition, the size of the market accounted for a larger proportion of total retail sales of consumer goods traveling goods retail sales growth slowed down significantly, the impact on the consumer market.

Yi Bin, chief strategy analyst at the Western Securities Institute, pointed out that under the impact of the epidemic, consumption scenarios are restricted, and residents' employment is damaged, superimposed on the operating difficulties of small and medium-sized enterprises (SMEs), and the importance of promoting consumption has increased.

For the recent `initiative` of issuing consumption vouchers in many places, Yi Bin said that the new feature of the current round of consumption voucher issuance is that in addition to the previous focus on the consumption of non-durable goods such as food and beverage, culture and tourism, entertainment, and departmental stores, a number of provinces and cities have begun to issue consumption vouchers for durable goods such as automobiles, home appliances, and real estate categories.

"In fact, the focus of issuing consumption vouchers is not the multiplier effect." Yang Chang, chief analyst at the Zhongtai Securities Research Institute, said, "Rather, it is the short-term interrupted economic cycle, the entity consumption cycle, through the consumption coupon, can quickly pull consumption willingness, to open the cycle."

In addition, Guoyuan Securities also analyzed that consumption coupons have directionality and adjustability. At present, around the issuance of consumption vouchers for the government subsidies and enterprises themselves, a combination of concessions, boost consumption at the same time, help enterprises to a small amount of money to pull the terminal flow of customers, customer single growth.

A number of places to promote consumption issued "billion" vouchers3

Some time ago, Beijing and Shenzhen have issued hundreds of millions of dollars of consumer vouchers to encourage people to consume, through the superimposition of e-commerce platforms preferential, a lot of products can do the history of the low price, to save a lot of money, the other regions of the netizens are also very project.

Now, a large wave of regions have joined the ranks of consumer vouchers "in the volume", according to @ChinaNewEconomicWeft collated, currently the country's many places have issued a "billion" consumer vouchers, and even some areas can give cell phones, computers, and other products

For example, Shenzhen has launched a new policy in addition to the vouchers, releasing the "Shenzhen Municipal Measures to Promote the Continuous Recovery of Consumption" on the 26th.

Among them, it is mentioned that consumers buying eligible cell phones, computers (including tablet PCs), headphones, stereos and other products, according to the 15% of the sales price of the subsidy, the maximum cumulative amount of 2000 yuan per person.

Guangdong Province, directly expressed encouragement around the issuance of consumer vouchers for retail, catering, sports and other areas of consumption, active market. Among them, the municipalities in Northwest Guangdong issued consumption vouchers of not less than 5 million yuan, and encouraged to increase the amount of consumption vouchers issued, exceeding the base portion of the subsidy at a rate of 70%.

In addition, Taiyuan, Shanxi Province, on the basis of 120 million yuan of consumption vouchers in the previous period, will again raise 420 million yuan to issue consumption vouchers; Chengdu, Sichuan Province, has also announced the issuance of six hundred million consumption vouchers to promote the rebound of consumption.

It is worth mentioning that the recent consumption vouchers around the world just also caught up with the 618 shopping festival, both online and offline there are a lot of activities, the product itself the price of the preferential amplitude is already not small, and then with the consumption vouchers, if there is a need to buy is really a good time.