Chinese cities roll out vouchers to loosen consumers’ tightening purse strings

Posted On By Direzione
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BEIJING – Chinese cities from Beijing to Chengdu are giving out vouchers in a move to revitalise the country’s flagging retail sector, which has been severely hit by strict Covid-19 restrictions and a gloomy economic outlook.

Hangzhou, capital of south-eastern province Zhejiang, last Friday (July 8) was among the latest to dole out incentives for its 12.2 million residents to spend more by issuing retail vouchers worth 80 million yuan (S$16.6 million).

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