# vouchers

Beijing Injects Rmb20.5bn into Lunar New Year Consumption Blitz — Prize-invoice lottery and loan subsidies aim to jump‑start spending

Beijing has deployed roughly Rmb20.5 billion in vouchers, subsidies and prizes over a nine‑day Lunar New Year period to spur household spending, backed by a larger Rmb625 billion trade‑in fund and a Rmb100 billion prize‑invoice pilot. The package combines fiscal transfers, retail supply measures and financial easing aimed at converting available goods and services into sales, but its long‑term effectiveness depends on household confidence and income growth.