Chinese cities dangle vouchers to loosen consumers' purse strings
Move to revitalise retail sector hit by virus curbs, gloomy economic outlook
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Chinese cities from Beijing to Chengdu are giving out vouchers in a move to revitalise the country's flagging retail sector, which has been severely hit by strict Covid-19 restrictions and a gloomy economic outlook.
Hangzhou, capital of south-eastern Zhejiang province, last Friday became among the latest to dole out incentives for its 12.2 million residents to spend more by issuing retail vouchers worth 80 million yuan (S$16.6 million).