Several cities issued consumption coupons, focusing on catering and other industries

category:Finance
 Several cities issued consumption coupons, focusing on catering and other industries


Beijing News reporter noted that this years national consumption promotion month started on September 9 and lasted until October 8. The consumption feast will also be upgraded with the coming of the holidays. The Ministry of Commerce has previously disclosed that during the Mid Autumn Festival and national day, more than 1300 activities will be held to promote consumption, which are widely participated by upstream and downstream enterprises, production, supply and marketing, and domestic and foreign trade enterprises, including the conversion of foreign trade exports to domestic sales, the tide of time-honored brands, and the poverty alleviation of agricultural products, so that consumers can enjoy preferential and substantial benefits. At the same time, in order to speed up the recovery of the market, the red envelope rain of consumer coupons already under nationwide will continue to help. Experts told the Beijing news that under the influence of the holiday effect, consumption during the National Day holiday will usher in a wave of explosive growth.

Why pay attention to this small and long holiday consumption?

This year, the novel coronavirus pneumonia has been affecting the consumer market in China, but consumption is also gradually recovering as the epidemic situation is stable.

According to the latest data released by the National Bureau of statistics, the total retail sales of consumer goods (hereinafter referred to as the total retail sales of consumer goods) reached 3357.1 billion yuan in August, a year-on-year increase of 0.5%, the first positive growth since this year.

Among them, the growth rate of retail sales of communication equipment goods was brilliant, with a year-on-year increase of 25.1%. In addition, the retail sales of beverages, cosmetics, gold and silver jewelry, and daily necessities were all above 10%. What is particularly noteworthy is the automobile consumption. Under the stimulation of multiple policies to boost automobile consumption, the retail sales of automobile goods have continuously increased year-on-year in July and August The monthly growth rates were 12.3% and 11.8% respectively, which strongly promoted the recovery of the total amount of social zero in August.

However, on the whole, in the first eight months of this year, Chinas total amount of social zero still fell by 8.6% year-on-year, so boosting consumption still needs continuous momentum. This is also the main reason why the consumption of small and long holidays in November and Mid Autumn Festival has attracted much attention.

During the Mid Autumn Festival and National Day holidays, more than 1300 consumer promotion activities involving upstream and downstream enterprises, production, supply and marketing, and domestic and foreign trade enterprises will be held. At the same time, many large-scale e-commerce platforms will also launch festival consumption coupons, mid autumn food festival and other promotional activities during the Mid Autumn Festival and national day. Some platforms will also set up special sales promotion for consumption poverty alleviation.

According to the statistics of the Ministry of Commerce, in the first two weeks of the national Consumption Promotion Month in 2020, consumption promotion activities in various regions have been steadily promoted, and a total of 160 million yuan of consumption vouchers will be issued in eight regions, including Jiangsu, Shanxi and Yunnan. According to the data of galaxy securities, as of September 17, since the outbreak of the epidemic, a total of 8 consumer promotion policies have been issued at the central level and 216 consumer promotion policies have been issued at the local level, many of which are the issuance of consumption vouchers.

In fact, as early as March, the cities that issued consumption coupons have shown the power of leverage. The consumption coupons issued by Hangzhou have been written off by 220 million yuan, driving consumption by 2.37 billion yuan, with multiplier effect of 10.7 times; Zhengzhou first issued 50 million yuan of consumption vouchers, which issued 11.524 million yuan of verification in two days, driving consumption of 128 million yuan, and multiplier effect of 11 times. According to the calculation of Zhongtai securities, the year-on-year growth rate of social zero in China is about 2.3% without the use of consumer bonds. Assuming that the amount of consumer bonds issued nationwide is 80 billion-360 billion yuan, according to the 10-15 times leverage range, the corresponding year-on-year growth rate of social zero is 4.2% - 15.4%.

According to the statistics of the Research Report of securities companies, about 80 provinces, cities and districts (counties) have announced the issuance of consumer bonds in about a month after the first batch of consumer bonds appeared, with a total amount of 10 billion.

According to the Beijing News reporter, more consumption coupons are invested in catering, tourism, culture, sports and other industries that are greatly affected by the epidemic. Some cities will implement policies according to the city to subsidize the local key industries that are greatly affected. Most of the consumption vouchers can be deducted only when they have consumed a certain amount of money, which will be conducive to the leverage of consumption vouchers.

Zhao Ping, director of the International Trade Research Department of the Institute for the promotion of international trade of the China Council for the promotion of trade, previously told the Beijing news that the issuance of consumption vouchers is to stimulate consumption and release demand through subsidies. From the past experience, the general consumption subsidy policy will drive consumption growth to a new high in the short term, especially in the areas mainly supported by consumption vouchers. However, consumer coupons are not inclusive, but where they need to be supplemented. Consumer coupons will be issued to industries that have been hit hard so as to make them recover faster.

Will there be an explosive growth of consumption under the epidemic situation?

From the experience of previous years, the National Day golden week is the peak of residents consumption. According to the monitoring of the Ministry of Commerce, from October 1 to 7, 2019, retail and catering enterprises across the country realized sales of 1.52 trillion yuan, an increase of 8.5% over the same period in 2018.

In the small and long holidays under the epidemic situation, whether consumption can return to the bustle and prosperity of previous years may still be on the wait and see. Fu Yifu, a senior researcher at Suning Financial Research Institute, told the Beijing news that in previous years, small and long National Day holidays were the time points for concentrated consumption. Driven by the holiday effect, tourism, retail, catering, hotels, leisure and entertainment fields have witnessed considerable growth. At the beginning of this year, due to the impact of the epidemic, all walks of life were generally impacted to a certain extent, but at present, the situation of domestic epidemic prevention and control has continued to be better, and tends to be stable. Offline consumption scenarios, such as tourism and watching movies, which have been greatly impacted by the epidemic situation, have been restarted, and their growth is relatively good. Fu Yifu said that peoples confidence and enthusiasm in consumption are constantly improving, and some consumption plans have been put on the agenda. For example, many peoples previous travel plans will choose to travel in the national day because of the epidemic situation, which is equivalent to compensatory tourism, which can be expected; compared with cinema consumption, it is also gradually recovering. Although the situation in the early stage of recovery is less than expected, it can Seeing that many blockbuster films are scheduled for national day, it is also worth looking forward to seeing revenge films. Fu Yifu believes that in general, under the influence of the holiday effect, it can be predicted that the consumption energy of the National Day holiday this year should not be much smaller than that in previous years, and the consumption of the National Day holiday will definitely usher in a wave of explosive growth. Source: Zhang Mei, editor in charge of Beijing News_ NF2100

In the small and long holidays under the epidemic situation, whether consumption can return to the bustle and prosperity of previous years may still be on the wait and see. Fu Yifu, a senior researcher at Suning Financial Research Institute, told the Beijing news that in previous years, small and long National Day holidays were the time points for concentrated consumption. Driven by the holiday effect, tourism, retail, catering, hotels, leisure and entertainment fields have witnessed considerable growth. At the beginning of this year, due to the impact of the epidemic, all walks of life were generally impacted to a certain extent, but at present, the situation of domestic epidemic prevention and control has continued to be better, and tends to be stable. Offline consumption scenarios, such as tourism and watching movies, which have been greatly impacted by the epidemic situation, have been restarted, and their growth is relatively good.

Fu Yifu said that peoples confidence and enthusiasm in consumption are constantly improving, and some consumption plans have been put on the agenda. For example, many peoples previous travel plans will choose to travel in the national day because of the epidemic situation, which is equivalent to compensatory tourism, which can be expected; compared with cinema consumption, it is also gradually recovering. Although the situation in the early stage of recovery is less than expected, it can Seeing that many blockbuster films are scheduled for national day, it is also worth looking forward to seeing revenge films.

Fu Yifu believes that in general, under the influence of the holiday effect, it can be predicted that the consumption energy of the National Day holiday this year should not be much smaller than that in previous years, and the consumption of the National Day holiday will definitely usher in a wave of explosive growth.