(Fighting against New Coronary Pneumonia) The multiplier effect of consumer vouchers released during the Qingming holiday in China

China News Agency, Beijing, April 7th (Xia Bin) In the Qingming holiday just passed, China has seen a momentum of consumption recovery.

During the Qingming Holiday, Huangshan Scenic Area received 20,000 tourists in the first two days, and there was an early peak of passenger flow in the scenic area, which once caused tourists to gather; major supermarkets in Jiaxing, Zhejiang, lined up with consumer vouchers to fill cards; Yangzhou City Bureau of Commerce focused on monitoring The accumulated turnover of 41 large supermarkets during the Qingming holiday was 42.3 million yuan (RMB, the same below), which was basically the same as the same period last year.

In Changsha ’s Time Outlet Mall, as of 17:00 on the 6th, the total number of passengers in the three-day holiday has exceeded 45,000, and the total sales reached 9 million yuan, an increase of about 15% year-on-year.

Although the "Research Report on the 2020 Qingming Holiday Tourism Market" released by the China Tourism Research Institute shows that after a comprehensive calculation, the total number of domestic domestic tourist reception during the Qingming Holiday in 2020 is 43.254 million, a decrease of 61.4% year-on-year; the tourism income is 8.26 billion yuan. The year-on-year decrease was 80.7%, but as shopping malls, restaurants, and entertainment venues in various regions gradually resumed business, during the Qingming holiday, although the consumer market could not be compared with previous years, the recovery trend was obvious.

Official data shows that some cities, such as Hangzhou and Zhengzhou, have experienced a resurgence of offline passenger flows, and the multiplier effect of consumer coupons has become prominent.

Hangzhou has been issuing consumer vouchers since March 27, and as of 16:00 on April 6, Hangzhou electronic consumer vouchers have driven consumption of 2.226 billion yuan. Among them, the first-phase payment of government subsidies was 145 million yuan, which drove Hangzhou ’s consumption of 1.805 billion yuan, and the pulling effect was more than 12 times. In the three days of the Qingming holiday, consumption vouchers drove Hangzhou to spend 700 million yuan.

Zhengzhou issued the first 50 million yuan consumer coupon on April 3, and as of 13:00 on April 6, it had paid 17.01 million yuan in government subsidies, driving consumption of 201 million yuan, with a pull effect of 11.8 times.

In order to boost consumer confidence and promote the resumption of production and production, since March, the country has begun to issue consumer vouchers.

According to incomplete statistics, over 30 provinces, cities, and administrative regions have issued consumer vouchers nationwide, and the amount issued has exceeded 5.6 billion yuan. Among them, Nanjing, Hefei, Guangxi, Hangzhou, Foshan, Zhengzhou, Jiaxing, Quzhou, Shaoxing and other places have chosen to issue consumer coupons through Alipay, with the amount exceeding RMB 4 billion.

Weng Yi, a senior researcher of the digital economy think tank, believes that consumer coupons have fully released the suppressed consumer demand. At the same time, consumer coupons in the digital age can be more accurately placed in industries that the government wants to support, and achieve a role of four or two kilograms through high leverage.

According to estimates by the China-Thailand Securities Research Institute, consumer vouchers will have an upward effect on the year-on-year growth rate of total retail sales of consumer goods, or it may allow consumption growth to exceed 8%.

Consumer vouchers also prompted merchants whose businesses were damaged during the epidemic to "return blood." Zhang Zelin, the owner of the “Miao Family” of the Hangzhou Meatloaf Steamed Bread Shop, said that on January 20th, his two shops in Hangzhou resumed work one after another, and the daily turnover initially stayed between 2,000 and 2,500 yuan. Since the consumption voucher activity, the number of people in the store has increased significantly, and the turnover has increased by 700 to 1,000 yuan per day compared to when it was just resumed. "In the past, the average customer may only order a staple food, but now there are 40 discount coupons of 10, and a drink or other snacks will be added together."

Alipay revealed that as of now, over ten million offline merchants across the country have benefited from consumer coupons, of which more than 90% are small, medium and micro merchants.

Cai Zhen, a senior researcher at the National Finance and Development Research Office, said that from the perspective of macro data, consumption has the largest effect. The consumption vouchers "flowered everywhere", and the fast forward button was pressed for economic recovery after the outbreak. In addition to promoting the economic recovery in the short term, consumer vouchers are also practical exercises for the application of digital infrastructure, and have profound significance for promoting the digitalization of the service industry and the transformation of the economic structure. (Finish)