Local governments across China have issued a new round of consumption vouchers to boost the recovery of catering, tourism, retail and other industries weighed down by the COVID-19 epidemic.

The southern metropolis of Guangzhou has issued coupons worth a total of 30 million yuan (about 4.3 million U.S. dollars), covering catering, e-commerce, retail and hotel businesses.

A restaurant owner in Guangzhou's Baiyun District said customer flow has rebounded over the past weekend, and almost half of the consumers used coupons issued by the government.

Since November, Beijing has issued six batches of vouchers for purchasing electronic devices such as mobile phones, laptops, tablet computers and air purifiers.

The island province of Hainan has issued vouchers worth 53 million yuan to potential tourists around the country since late October, which has already achieved notable results. 

The annual Central Economic Work Conference held in Beijing last week underlined the role of consumption. Policymakers at the meeting prioritized the recovery and expansion of consumption as a key way to boost domestic demand in 2023.

Issuing consumption vouchers has proved effective in driving economic recovery. According to the data of the People's Bank of China Guangzhou Branch, in the first round of consumption promotion this year which ended in early May, Guangdong issued vouchers worth some 607 million yuan, which helped to stimulate 3.58 billion yuan of consumer transactions.

Cao Zhongxiong, director of the Department of Digital Strategy and Economics at China Development Institute, said that an optimized voucher system could effectively consolidate the foundation of economic recovery.

On the other hand, it is necessary to stabilize employment, increase income, and enhance consumer confidence through measures such as cutting taxes and fees and increasing financial support, Cao added.

(Source: Xinhua with edits)