During the holiday, Shanghai's "May 5 Shopping Festival" attracted the participation of Alibaba, Pinduoduo, Suning, Meituan, Bright Foods, and Bailian, all of which plan to issue consumer vouchers and shopping vouchers in the festival. According to the Shanghai Business Council data, as of May 4, the major enterprises have committed to issuing consumption vouchers amounting to more than 20 billion yuan.
Wang Jian, senior vice president of Pinduoduo, said, "Under the guidance of the Shanghai Municipal Government and the Shanghai Municipal Commission of Commerce, Pinduoduo will invest at least 2.5 billion yuan in cash and subsidies for the 'May 5 Shopping Festival' to achieve the 'two 5 billion ' goals, namely, to directly drive offline consumption of more than 5 billion yuan, to drive Shanghai consumer goods online sales of more than 5 billion yuan."
Shanghai is just a typical representative of the consumer vouchers issued under the boom across China. In Xiamen, according to incomplete statistics, the holiday five days, the districts have prepared hundreds of millions of yuan of consumption coupons to boost consumption, is expected to pull consumption of 1.6 billion yuan; in Shenyang, the public enjoyed a long vacation in the "local one-day tour", merchants have come up with a consumption coupon tool to attract customers. 10,000 consumer vouchers in Shenyang City, 22,482 merchants were underwritten for use, with vouchers consumption driven transactions amounted to 39.689 million yuan ......
"Consumption vouchers are a short-term policy tool for the government to stimulate the economy." Peking University Guanghua School of Management President Liu Qiao said, consumption vouchers are mostly used in the rapid economic downturn, the government through transfer payments to increase consumption of residents, increased consumption to drive business production, increased production to provide jobs, employment to promote consumption, the whole process is not only a virtuous cycle and has a multiplier effect, can drive more consumption and investment, production activities, resulting in macroeconomic expansion effect.
Peking University Guanghua School of Management and Ant Financial Services Research Institute recently released a joint study, said that through the issuance of vouchers in Hangzhou and no vouchers when the daily consumption of comparison, every 1 yuan of vouchers can lead to 3.5 yuan of new consumption, and this part of the new consumption to further open up the space of consumption growth.
Foshan, as a member of the first echelon of Guangdong Province to issue consumption vouchers, has also tasted the "sweetness". May 3, Foshan officials announced that, after market sampling and data measurement, a total of 100 million yuan of Foshan's actual consumption vouchers to pull consumption The first time I saw this, it was a very good thing that I was able to do it.
But consumption vouchers are not a "panacea" and should never be abused. Zhao Ping, director of the International Trade Research Department of the China Council for the Promotion of International Trade Institute, bluntly stated that the use of consumption vouchers should be reasonable, and does not recommend or advocate the long-term issuance of consumption vouchers subsidies.
"At present, it is not the implementation of universal issuance, but for different industries, where the need to make up where. Which industries have been hit harder, only to these industries to issue consumption vouchers, so as to promote these industries as soon as possible to return to the normal level of consumption." Zhao Ping believes that, for the more difficult financial income of the place, it is less suitable for the use of the issuance of consumption vouchers, after all, consumption vouchers from the financial revenue, we must consider the local financial capacity.
She further said that consumption vouchers are more suitable for selection in the more economically developed, fiscal revenue is more plentiful in the issuance of local. In the central and western regions, especially in places with more difficult fiscal revenues, it is less suitable to use the method of issuing consumption vouchers.
"Promoting consumption growth should combine long-term arrangements with short-term measures." Zhao Ping said that the short-term goal is mainly focused on consumption back, long-term consumption growth should focus on the perspective of continuous improvement of the consumption system, the consumption environment, and the establishment of a more comprehensive long-term mechanism for consumption growth.