The move comes as part of a government effort-led to revitalize consumer spending as a zero-COVID policy has devastated the countries’ economic hubs.
Very interesting. By my calculations (please correct me if I’m wrong), 30m yuan is roughly $4.5m USD and Shenzhen has a population of over 12m people. So that’s less than a dollar for every person. Of course, they’re not giving it to everyone. You have apply and be selected.
Still, free money is free money.
I’m interested to see how much is distributed, and it would be interesting to see how much is used to pay taxes versus buying goods and services. I doubt we’ll ever know.