Street vendor economy | Chinese pragmatic efforts to get going again...
As in practically any country, the Chinese economy and unemployment has been hit drastically, boosts are required from every corner to get going again.
While street vendors in China have gradually been banned in recent years for urban rejuvenation programs and business regulations, the street vendor economy is restimulated now by the government to provide windows to people, especially those unemployed for making a living and business.
Technology firms from Tencent to JD have also jumped on the bandwagon to assist street vendors in interest free credit purchase programs. A mobile street stall van from Wulin Motors has become the latest hit in China, with Wulin stocks tripling this week.
There are even funny wechat miniprograms which can tell which street business is most suitable for you. I was a 200% fit for “marriage matchmaking consultant” :-)
It has been a pragmatic u-turn to give way for the people to keep going and see chances of business but the question remains whether it will be temporary or a definite turn towards new programs regulating the vital ‘self-employed street economy’.
Sources scmp, wsj, caixin, sixthtone