China’s Hubei Province Unveils Measures to Boost Consumption
Zhang Yushuo
DATE:  May 29 2020
/ SOURCE:  Yicai
China’s Hubei Province Unveils Measures to Boost Consumption China’s Hubei Province Unveils Measures to Boost Consumption

(Yicai Global) May 29 -- Hubei, the Chinese province hit hardest by the Covid-19 outbreak, said today that it will push steady economic growth by boosting consumption through more than 30 measures, including the issuance of gift vouchers and car-buying subsidies.

Mainly targeting the catering, retail, culture, tourism and other sectors, local governments in Hubei will issue consumption coupons to residents and shopping vouchers to low-income groups.

The central province will speed up the establishment of duty-free shops in major cities and airports to sell local branded products in these stores.

Local governments in the region will subsidize new energy vehicle purchases, provide tax relief on NEV buys, organize trade-in car sales and promote vehicles to farmers.

The province will encourage tourist sites to gift entry tickets to visitors, with scenic spots, travel agencies and hotels urged to introduce discount packages. It will also push cities to issue travel vouchers to the public to boost local tourism.

In addition, Hubei will provide more financial support for the construction of its fifth-generation wireless network, encouraging carriers to cut network charges for micro, small and mid-sized firms.

Editor: Peter Thomas

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Keywords:   Hubei,Boost Consumption