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Coronavirus: China voucher scheme to revive retail hits the buffers, sparking debate about cash payments

Summary:
[unable to retrieve full-text content]China’s policy of handing out billions of yuan in shopping vouchers, instead of offering direct cash payments, is having limited effect in offsetting the economic damage of the coronavirus, research shows.By the end of April, local governments had given out more than 6.5 billion yuan (US6 million) worth of consumer vouchers, essentially government subsidised coupons or discounts that can be spent at designated venues, according to data from 42 cities collated by the Chinese Academy of Social…

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[unable to retrieve full-text content]
China’s policy of handing out billions of yuan in shopping vouchers, instead of offering direct cash payments, is having limited effect in offsetting the economic damage of the coronavirus, research shows.By the end of April, local governments had given out more than 6.5 billion yuan (US$916 million) worth of consumer vouchers, essentially government subsidised coupons or discounts that can be spent at designated venues, according to data from 42 cities collated by the Chinese Academy of Social…

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