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‘Not in this economy’: why Guangdong is struggling to tempt consumers to spend (www.scmp.com)

submitted 3 months ago by rss@news.abolish.capital to c/china@news.abolish.capital

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In early November, China’s most populous province launched its biggest ever consumer subsidy programme, with the government pledging to commit 3.5 billion yuan (US$492 million) to offer discounts on a slew of products: from smartphones to snowboards. Guangdong’s scheme is the latest attempt by Chinese authorities to use consumption vouchers to boost domestic spending – a campaign that is key to China’s efforts to shore up growth and rebalance its economy amid the ongoing US trade war. But on the...

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