How do you view this burning money type of consumption promotion to replace consumption coupons？
How do you view this “burning money” type of consumption promotion to replace consumption coupons?
As one of the “troikas” driving the growth of the national economy, consumption has been the main “booster” for economic growth for six consecutive years.However, due to the impact of the New Coronary Pneumonia epidemic, consumption was hindered.Data released recently by the National Bureau of Statistics show that in the first two months of this year, the total retail sales of social consumer goods (hereinafter referred to as social zero overall) declined by 20 each year.5%. In recent days, many cities have “sponsored” to promote consumption.Nanjing uses a multi-variable online shaking method to publicly release 50 million electronic consumer coupons, covering catering consumption, book consumption, sports consumption and many other aspects. How to treat this kind of “burning money” promotion consumption replacement?Sauna, Yewang interviewed Zhao Ping, director of the International Trade Research Department of the China Council for the Promotion of International Trade, Fu Yifu, a senior official of Suning Financial Research Institute, and Zhang Wei, chief macro measurer of Kunlun Health Asset Management. Sauna Night Net: Recently, Nanjing, Ningbo and other places issued consumption vouchers to residents. How do you view this kind of “burning money” to promote consumption conversion? Zhao Ping: Obtaining consumer vouchers is to supplement consumption to stimulate consumption and release demand.From 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 consumer vouchers. However, consumer vouchers are not “inclusive”. They still need to be replenished elsewhere to generate consumer vouchers for the industries penetrated by the shock and gradually recover. At present, some short-term stimulus policies are needed to promote consumption, to compensate for the consumption demand that was blocked due to the impact of the epidemic, and thus accelerate the recovery of consumption.At present, some compensation policies adopted by some cities are reasonable and effective, but long-term subsidies are not advocated. Fu Yifu: There is no doubt that consumer vouchers have a positive effect on boosting residents ‘consumption and promoting economic growth.In addition, consumer vouchers can also improve the living conditions of low-income families, play a role in the transition period, and improve industry operations to drive production recovery. The epidemic has impacted offline consumption, especially in the catering, hotel, tourism and other service industries.At this time, Nanjing and other places distribute consumption vouchers for catering and rural tourism in a timely manner to guide the public to spend more in areas of interference and help improve the business conditions of businesses. However, although consumer coupons can sometimes improve consumers’ ability to pay at one time, they cannot fundamentally change consumers ‘expectations of the future increase in income. Out of the instinct to avoid risks, ordinary people often exceed the wait and see of holding coins.It means that once the consumption coupons are used up, it is difficult for some people to expect to withdraw the money in their pockets. Therefore, in the long run, boosting consumption requires effort in the following areas.On the demand side, efforts must be made to effectively increase the income level of residents, improve social security systems (especially rural areas), and improve infrastructure construction in cities and rural areas below the third line; on the supply side, efforts must be made to promote technological progress and increase production efficiency.Since then, the quality of commodities has been more optimized and the variety of commodities has increased, and the reduction of production costs has driven the reduction of commodity prices, thereby enabling Chinese to increase their own marginal consumption potential and stimulate consumption potential.In addition, government departments should also strive to develop a business environment for fair competition, promote the benchmarking of domestic consumer products against international standards, support companies in formulating new brand policies, strengthen supervision, improve intellectual property protection measures, and crack down on counterfeiting and shoddy. Zhang Wei: I don’t think that this consumption promotion model can play a role, but Nanjing’s choice of “difficult people” in the distribution of people still has a certain effect.For this problem, it is recommended to consider from the audience, rather than specific consumption categories. Obviously, the most important thing to promote consumption is to raise residents’ independent consumption expectations and make a fuss from the demand side.To promote consumption, we must consider where the residents’ most urgent needs are.When issuing consumer vouchers, it is also necessary to issue targeted payments to the “most pressing people” instead of “copter-like money”. Sauna, Ye Wang, Pan Yichun, editor Wang Yu, Sun Yong proofreading Chen Diyan