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Coronavirus: China handing out more vouchers to spur spending, but cash handout still unlikely

Summary:
[unable to retrieve full-text content]A growing number of Chinese cities have joined the race to hand out prepaid vouchers in an effort to revive spending amid the coronavirus outbreak, but there is still little sign that the Beijing is willing to make direct cash payments to consumers.At least 30 cities across China are issuing vouchers to residents for specific products, although the total amount of 5 billion yuan (US4 million) represents less than 0.01 per cent of total retail sales in 2019.Private consumption accounted for…

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[unable to retrieve full-text content]
A growing number of Chinese cities have joined the race to hand out prepaid vouchers in an effort to revive spending amid the coronavirus outbreak, but there is still little sign that the Beijing is willing to make direct cash payments to consumers.At least 30 cities across China are issuing vouchers to residents for specific products, although the total amount of 5 billion yuan (US$704 million) represents less than 0.01 per cent of total retail sales in 2019.Private consumption accounted for…

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