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Written by: Lao Minyi
2021-05-09 16:48
Last update date: 2021-05-09 16:48
The government will distribute 5,000 yuan in "electronic consumer coupons." Financial Secretary Chen Maobo uploaded photos on his blog today (9th) to buy food in the market yesterday (8th) to understand the current economic market and the application of electronic payment.
He expects to start accepting registration and distribution during the summer vacation. It is expected that from the second half of this year to the beginning of next year, the use of electronic consumer vouchers will create more opportunities for sales promotion and business promotion in the retail market.
Chen Maobo explained in his blog that the introduction of electronic consumer coupons not only hopes to increase the impetus for improvement in the economic recovery, but also hopes to promote the use of electronic payments in merchants, especially small and medium-sized merchants.
He pointed out that in the value of retail sales in Hong Kong in the first quarter of this year, the value of online sales was 6.29 billion yuan, a sharp increase of 63% over the same period last year, which was much higher than the overall retail value of 7.5%, reflecting this part of the Strong growth momentum.
However, the value of online sales only accounts for 7.7% of the total sales. In contrast, the value of goods sold online in the Mainland accounted for more than 20% of the total. This shows that there is still a lot of room for improvement in the online sales of retail products in Hong Kong. .
He believes that by providing market incentives to encourage more small merchants to participate in the use of electronic payment models, it will be beneficial to them in the long run to connect with other online sales platforms, thus benefiting from this rapidly growing sector and providing them with opportunities for transformation and upgrading. Opportunity.
▼Starting from April 29th, relax social distancing measures with the vaccine bubble frame▼
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Chen Maobo: Hong Kong's economy is getting better
In addition, Chen Maobo mentioned in his blog that Hong Kong's economy has begun to pick up, and the economy has contracted for six consecutive quarters, with a year-on-year growth of 7.8% in the first quarter of this year; if compared on a quarterly basis, it has shown growth for three consecutive quarters.
Among them, private consumption expenditure also ended six consecutive quarters of decline, increasing by 1.6% in the previous quarter.
However, the economic recovery in the last quarter was mainly driven by exports.
The performance of other industries such as retail and catering still needs to be further improved.
He took the catering industry as an example. The revenue of restaurants in the first quarter of this year was 19.7 billion yuan, about 9% lower than the same period last year, and 37% lower than the same period last year.
The catering service industry employs more than 230,000 wage earners. The unemployment rate in this industry is still high at 13.3%, which is much higher than the overall unemployment rate of 6.8%.
Slow vaccination or slow down the pace of restarting the economy
Chen Maobo concluded that economic recovery also requires a road map. When the epidemic is under control, customs clearance with the mainland and international exchanges are resumed, the economy stabilizes, and personal income improves, then private consumption can continue to increase.
Past data reflect that private consumption will continue to improve to support the improvement of the job market, the unemployment rate will gradually fall, and the overall salary will rise.
He finally pointed out in the article that the overall vaccination rate in Hong Kong is still low and the vaccination rate is slow, which may slow down the pace of restarting the economy, causing workers in all walks of life to bear direct or indirect costs, and once again urged the public to be vaccinated.
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Chen Maobo Financial Secretary Electronic Consumer Vouchers