Huge subsidy scheme in China’s most populous province falls flat with consumers

In early November, China’s most populous province launched its biggest ever consumer subsidy programme, with the government pledging to commit 3.5 billion yuan (US$492 million) to offer discounts on a slew of products: from smartphones to snowboards. Guangdong’s scheme is the latest attempt by Chinese authorities to use consumption vouchers to boost domestic spending – a campaign that is key to China’s efforts to shore up growth and rebalance its economy amid the ongoing US trade war. But on the ground, the huge new programme has received a tepid response. Locals in Guangdong told the Post the subsidies were unlikely…