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China’s first digital voucher bill From Ant group research institute

The following is the China’s first digital voucher bill From Ant group research institute recommended by And this article belongs to the classification: Consumer research, Life data, research report.

COVID-19 has hitherto unknown impact on the global economy. In order to revive the economy and stimulate consumption, China has become the first country in the world to issue digital consumption vouchers. Practice has proved that the digital consumption voucher has a significant effect in stimulating residents’ consumption, promoting businesses to return to work and production, and improving the efficiency of financial funds, realizing the win-win situation among consumers, businesses and the government.

This report is small and city’s small bill, which is the first bill of digital consumer coupons. It shows how the government’s 1 yuan bills of consumption are issued on Alipay platform and how it enters the real economy. It also promotes the consumption of residents with the multiplier effect, and helps a large number of small and micro businesses to resume work and resume production. After the epidemic situation is calm, a city will be restarted and revived in a timely manner. Alipay city has found small numbers of consumer coupons, which are naturally “drip irrigation”, can accurately remove the small and micro businesses and catering retail businesses that are seriously affected by the epidemic, and can also accurately move the middle and old people and the low consumption groups to increase consumption.

A set of economic principles has gradually formed behind the digital consumption voucher. Peking University, Chinese Academy of financial Sciences and Chinese Academy of social sciences have conducted rigorous research and demonstration, and the inclusive, efficient and accurate consumption voucher has been proved theoretically.

Digital consumption voucher is not only a small step to drive people to the streets, but also a big step in the practice of digital governance and digital economy. Alipay is promoting the normalization of digital consumer vouchers. From the government led demonstration to the business self catering, street stores can also digitally transform through Alipay, like Starbucks, and achieve chain marketing through digital coupons. Fiscal policy can also upgrade from “multiplier effect” to “exponential effect” to maximize the effect of financial funds.

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