Political situation
Written by: Zhou Haoyi
2021-04-12 13:21
Last update date: 2021-04-12 13:23
The 5,000 yuan electronic consumer voucher program proposed by the "Budget" is expected to accept registration this summer. The government has finalized four operators, including Octopus, Alipay, and WeChat Pay, to issue consumer vouchers, but no specific arrangements have been announced.
Tian Beichen, a member of the Legislative Council of the Practical Political Roundtable, revealed that according to his understanding, the government would not adopt the earlier plan of distributing 1,000 yuan per month in five installments. Instead, it prefers to distribute it in two installments, 2,500 yuan each, with a period of use of 2 Months, that is, it needs to be used within 4 months in total.
It is difficult to cancel after accelerating the installation of e-money merchants
When asked by "Hong Kong 01", Tian Beichen pointed out that the advantage of distributing consumer vouchers in two installments and 2,500 yuan per installment is that it can take into account both large and small consumption, which helps to revitalize consumption, and also solves the problem of distributing only 1,000 yuan per issue. The problem of purchasing large-value products; another reason is that the government has selected Octopus as one of the operators. Its storage limit is 3,000 yuan. It is impossible to deposit 5,000 yuan consumer vouchers at one time. It is appropriate to distribute them in two installments. The balance of 500 yuan is used as a "walking position" for the public to pay for transportation.
He pointed out that Octopus is widely used in Hong Kong. The distribution of consumer vouchers this time can further enhance its brand status in Hong Kong. Because the government wants to speed up the implementation of electronic money, merchants participating in this plan, including market vendors, will be exempted from 1.5% administrative fees for installing Octopus machines. Until the end of the plan, incentives can be provided to merchants.
He believes that even if the plan ends, merchants will have to start paying administrative fees, but merchants and customers are already accustomed to the Octopus payment model and it is difficult to cancel, which will help speed up the development of electronic money.
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Administrative fee feedback to merchants can increase incentives
Tian Beichen uses the G2000 fashion store chain he founded as an example. For every ten million yuan of business involving Octopus payments, 2.5 million yuan will be funded by the government. If 1.5% of the Octopus administrative fee is returned, that is, 150,000 yuan. One-quarter of this number will be directly given back to merchants (about 37,000 yuan), which will increase the incentives for merchants to install Octopus machines.
The Financial Secretary Chen Maobo said yesterday (12th) that the government’s goal is to start accepting registration during the summer vacation. As for the number of consumer vouchers issued, the amount to be issued in each period, and the expiry date, the authorities are carefully considering the public’s proposals over the past period of time. Various opinions will be finalized as soon as possible.
The general principle is to allow citizens to conveniently and flexibly use electronic consumer vouchers for a period of time to pay for the consumption of local retail, catering and service merchants in order to stimulate the economy.
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