Instead of printing money like there’s no tomorrow… #China did something rather unusual to boost the #economy

The #government handed out 10 billion RMB worth of vouchers targeting specific industries that were hard hit… like food, leisure, entertainment, catering hotels and transportation.

And they used WeChat as their platform to distribute said vouchers. No long lines. No bureaucracy. That’s money going straight into people’s #WeChat wallets.

In #Wuhan alone, 28 million RMB worth were handed out in April… which went on to generate 320 million RMB worth of consumption. That’s over 11x the original value.

They were also able to send out vouchers with higher priority given to specific groups like front line medical staff.

Vouchers are just a piece of the puzzle. In this 60-page exclusive report by Tsinghua University, Wechat & Tencent Social Research Institute… they dive into the details:

-the value of the QR Code economy
-the size of the WeChat ecosystem
-technological solutions to the various issues faced during the pandemic
-the future of the QR code economy

Get your free copy of the full report here:  https://kungfudata.com/wechatexclusive

#wechat #amillionrestarts #chinabusiness #ecommerce