{"id":254590,"date":"2025-11-10T09:08:09","date_gmt":"2025-11-10T09:08:09","guid":{"rendered":"https:\/\/www.newsbeep.com\/uk\/254590\/"},"modified":"2025-11-10T09:08:09","modified_gmt":"2025-11-10T09:08:09","slug":"not-in-this-economy-guangdongs-huge-subsidy-scheme-falls-flat-with-consumers","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/uk\/254590\/","title":{"rendered":"\u2018Not in this economy\u2019: Guangdong\u2019s huge subsidy scheme falls flat with consumers"},"content":{"rendered":"

In early November, China\u2019s most populous province launched its biggest ever consumer subsidy programme, with the government pledging to commit 3.5 billion yuan (US$492 million) to offer discounts on a slew of products: from smartphones to snowboards.<\/p>\n

Guangdong\u2019s scheme is the latest attempt by Chinese authorities to use consumption vouchers to boost domestic spending \u2013 a campaign that is key to China\u2019s efforts to shore up growth<\/a> and rebalance its economy amid the ongoing US trade war.<\/p>\n

But on the ground, the huge new programme has received a tepid response. Locals in Guangdong told the Post the subsidies were unlikely to convince them to up their spending \u2013 especially on non-essential items.<\/p>\n

Despite the big headline figures, the vouchers often did not provide attractive discounts in practice, they said. And many consumers are still being cautious amid an uncertain economy and a shaky job market.<\/p>\n

The lack of enthusiasm underscores the challenges facing Guangdong \u2013 one of China\u2019s technology and export powerhouses \u2013 as the region of 128 million people strives to revitalise a local economy<\/a> that is feeling the effects of the trade war and a prolonged property downturn.<\/p>\n

Guangdong\u2019s new subsidy programme \u2013 which launched amid great fanfare on November 3 \u2013 will last until March next year, with the goal of driving a surge in foot traffic and spending during the coming National Games and major public holidays like Spring Festival.<\/p>\n","protected":false},"excerpt":{"rendered":"In early November, China\u2019s most populous province launched its biggest ever consumer subsidy programme, with the government pledging…\n","protected":false},"author":2,"featured_media":254591,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[105895,84,105889,891,105888,1294,105887,10427,10423,10419,105890,44666,105892,10425,8711,105886,105891,56,54,55,84080,105893,105894],"class_list":["post-254590","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy","tag-asia-pacific-economic-cooperation-apec-forum","tag-business","tag-chen-hua","tag-china","tag-domestic-spending","tag-economy","tag-foshan","tag-guangdong","tag-guangdong-society-of-reform","tag-guangzhou","tag-he-ying","tag-jiangsu-province","tag-national-games","tag-peng-peng","tag-shenzhen","tag-spring-festival","tag-su-yuru","tag-uk","tag-united-kingdom","tag-unitedkingdom","tag-us-trade-war","tag-zhou-lin","tag-zhu-yinghua"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts\/254590","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/comments?post=254590"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts\/254590\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/media\/254591"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/media?parent=254590"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/categories?post=254590"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/tags?post=254590"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}