Beijing to give residents 1.7 billion dollars for shopping

Beijing has joined dozens of other Chinese cities and will issue consumption vouchers to citizens, to encourage spending after retail sales collapsed following the coronavirus outbreak., Report says, citing Bloomberg.

The Beijing municipality government plans to issue 12.2 billion yuan ($1.7 billion) in consumption vouchers, which can be used to shop online or in physical stores in catering, shopping, tourism, education, and sports.

The issuance of vouchers began at 10:00 local time through the Chinese online trading platform JD.com. Citizens will be able to use the received coupons both in ordinary stores and on Internet sites for shopping in the field of tourism, education, culture, sports, and catering. Vouchers will be issued in four stages: June 6, 13, 20, and 27. Each coupon is valid for 14 days.