Whats the pulling effect of consumption coupons?

category:Finance
 Whats the pulling effect of consumption coupons?


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.

During the small and long holiday, many cities also scatter money through consumption vouchers. From September 14 to November 8, Chengdu municipal government will issue more than 200 million yuan of consumption vouchers on the basis of 200 million yuan of subsidy funds. The first round of issuance of Taiyuan e-consumption coupons started on September 19, which is divided into 15 rounds, including accommodation and catering, retail, household appliances, department stores and home furnishings.

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. Source: Zhang Mei, editor in charge of Beijing News_ NF2100

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.