The consumer subsidy plan approved by the Macau government will stimulate the economy and benefit residents and commercial establishments, and its first phase will run from 1 May to 31 July 2020, said the Macau Economic Bureau (DSE).
The plan, intended to increase internal demand, boost the economy and stabilise employment, consists of providing every Macau resident with a consumer subsidy via an electronic consumer card in the amount of 3,000 patacas (US$375).
“A second phase is being planned, which will provide each resident with a consumer subsidy in the value of 5,000 patacas (US$625) in the period between August and December,” said the DSE in the statement.
The consumer card benefits all sectors and the DSE continues to promote it to commercial establishments.
As well as the card not being able to be used in certain establishments or for certain purposes set in the respective legal diploma, the electronic consumer card can be used in most commercial establishments on the market to buy products and services, and it is expected that the various sectors such as retail, catering and other services will benefit from its implementation.
By setting a maximum daily spend of 300 patacas, residents are encouraged to consume several times, so that small and medium-sized companies, including small restaurants and retail stores can benefit.
The card encourages electronic payments, allowing commercial establishments to accept various methods of payment from Macau and mainland China, making it easier for residents and visitors to pay and preparing for business opportunities that will emerge after the pandemic has passed. (macauhub)