From July 18, a new round of consumption vouchers will be issued in many places to further release the consumption potential and promote the continuous recovery of consumption. Experts said that the issuance of consumer vouchers has multiple effects, and the consumer market will further recover. "The purpose of issuing consumption vouchers is to boost the consumer market and help macroeconomic growth." Fu Yifu, a senior researcher at the Xingtu Financial Research Institute, told the Securities Daily that the issuance of consumption vouchers is equivalent to the government transferring purchasing power to the public and spending in specific areas within a specific period of time, so as to rapidly increase the marginal consumption propensity of residents in the short term through the "leverage effect", stimulate the recovery of consumption in related areas, and then drive the improvement of enterprise production and operation, and alleviate the pressure of economic operation. Compared with direct money distribution, issuing consumption vouchers can be used for consumption rather than saving, and the stimulation effect is more obvious. According to the reporter, since July 18, many places have distributed consumer vouchers to consumers. For example, Beijing issued catering coupons to consumers throughout the city, which were jointly funded by the government and platform enterprises providing catering services, and launched three types of consumption coupons, namely, takeout coupons, in store coupons and elderly care and disability coupons, totaling 100million yuan, to benefit consumers and catering enterprises in Beijing; The Shenzhen Federation of trade unions launched the activity of "ten million gift certificates to benefit employees and one million employees to help consumption", and successively issued a total of 60million yuan of "labor benefit consumption vouchers" to employee members; Liupanshui City issued the second batch of catering and retail consumption vouchers. Songxiangqing, vice president of the Government Management Research Institute of Beijing Normal University and director of the industrial economy research center, told the reporter of Securities Daily that the issuance of consumer vouchers has multiple effects: first, it has the leverage effect of promoting consumption; Second, it has the traction effect of promoting investment; Third, the leading effect of creating new consumption demand and new consumption capacity; Fourth, the driving effect of increasing residents' income and reducing living costs; Fifth, the promotion effect of promoting the recovery of small and medium-sized enterprises; Sixth, boost confidence in social and economic development, expand urban and rural employment and ensure the linkage effect of people's livelihood. Since this year, many places have intensively introduced a series of policies and measures to activate the consumer market, among which the issuance of consumer vouchers has become an important starting point. On July 13, the Department of Commerce of Ningxia Hui Autonomous Region released data showing that in the first half of this year, Ningxia issued a total of 3.18 million physical coupons and consumption coupons, directly driving consumption of 1.27 billion yuan and indirectly driving consumption of 7.08 billion yuan. The consumer market has accelerated its transformation from gradual recovery to rapid warming; According to the latest data from the Department of Commerce of the Tibet Autonomous Region, in the first half of the year, Tibetan business departments at all levels invested 54.107 million yuan in total, issuing 2.236 million consumer vouchers for catering, household appliances, supermarkets, department stores, refined oil products and other types of consumption, achieving a boost of consumption of 182.628 million yuan. "The recovery of consumption is related to the continuous release of the dividends of various consumption promotion policies. More importantly, the basic plate of China's economic development is relatively solid, and the macroeconomic self-regulation and repair ability is huge." Song Xiangqing said that at present, the issuance of consumer vouchers can not only quickly stimulate the rapid growth of residents' consumption, but also play a leveraging role of consumer vouchers, boost residents' consumption confidence, fully release the consumption potential of the whole society, and drive the steady recovery of the consumer market. "In practice, the issuance of consumer vouchers can indeed work quickly in a short time, helping the recovery of the operation of the consumer market. In the recent recovery of consumption, consumer vouchers must have played a role." Fu Yifu said. "When introducing policies related to consumption vouchers, all regions should follow the principle of moderation and balance, unify fairness and efficiency, and help the weak and the strong. They should not issue consumption vouchers on an excessive scale, nor should they only issue consumption vouchers to specific groups, nor should they only issue consumption vouchers to large enterprises and large brands." Song Xiangqing believes that we should give more preference to small and medium-sized enterprises in catering, entertainment, tourism and physical supermarkets, and to the living security needs of people with difficulties and special groups. Song Xiangqing said that local governments also need to carefully assess their financial affordability when issuing consumer vouchers. They should not blindly follow the trend. They should comprehensively consider the needs of local economic fundamentals, reasonably arrange the amount of consumer vouchers issued, and launch them accurately, so as to ensure that urban and rural residents and market players really benefit. Fu Yifu believes that with the boost of people's willingness to travel and consume, coupled with strong policy support, the growth foundation of the consumer market will be more solid in the future, and it is expected that the consumer market will continue to usher in a stronger recovery in the second half of the year. (Xinhua News Agency)