The Chinese government’s support for street vendors is something of an about-turn
IN A COUNTRY known for high-tech ambitions and giant state-owned firms, the plight of street hawkers may seem insignificant. But in China these days, people like Shui Jin, an old lady pedalling a wooden cart laden with apricots and cherries, are in the spotlight. Faced with rising unemployment, officials have concluded that pavement stalls can help solve the economy’s woes.
Mr Li’s endorsement has generated much buzz about the revival of China’s “street-stall economy”, as it has been dubbed. At least 27 provinces and cities have announced that they will create markets for hawkers or, in some cases, let them move their wares onto the pavement in front of their shops. The shining example is Chengdu, a bustling city in Sichuan province in the south-west, where businesses started setting up street stalls in March.
Can the street-stall economy really make a difference? Some investors see a business opportunity. The shares of Wuling Motors, which is making a new van that can double as a mobile kiosk, more than tripled in value within four days of Mr Li’s comments. Other companies that might benefit, including Yindu Kitchen, which makes portable cooking equipment, and Maoye Commercial, which owns some properties where stalls will be set up, also saw their share prices surge.
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