Member of the National Committee of the Chinese People's Political Consultative Conference Liu Yonghao: Recommends distributing 500 yuan universal consumption vouchers to the entire population, which could boost consumption by nearly 2 trillion yuan

Caixin March 2nd: Regarding the current structural biases in the consumption voucher policy, Liu Yonghao, a member of the National Committee of the Chinese People’s Political Consultative Conference and Chairman of New Hope Group, stated at a media briefing that it is advisable to learn from the experiences of countries like Malaysia by issuing universal consumption vouchers based on ID cards without industry or category restrictions. This would allow policy benefits to reach low- and middle-income groups and the grassroots of people’s livelihoods. If 500 yuan is issued to each person nationwide, it could stimulate nearly 2 trillion yuan in consumption. (Yicai)