Impact of the new street vendor regulation on poverty alleviation and sustainable livelihood during COVID-19 in China
During the last fifty years, the informal economy played a significant role in economic development globally. Due to the high potential for creating job opportunities and generating incomes, the informal economy was highly accepted by most nations, and many policymakers pay close attention to promote the development of the informal economy. The informal economy range is extensive, and street vending is a critical manifestation of urban poverty. Street vending is a simple way to generate income for low- income households by investing in small capital. Since an ongoing "National Sanitary City" campaign was started in 1989, the Chinese government has been strict on the street vendors because unregistered street vendors are almost doubled than the registered ones in China. Chinese street vendors confronting severe policy restrictions from the government because they were defined as negative impacts on city appearance and distribution to disorder. In 2020, the Coronavirus epidemic outbreak hit the global economy, especially China's very early affected country. The epidemic outbreak increased the unemployment rate, slumped manufacturing activities and service industries. Therefore, after years of cracking down on street vendors, the Chinese government now allows them back on the streets to give its COVID ravaged economy a boost. It is effective at turning unemployed Chinese people into self- employed workers during the COVID outbreak. As local policies gradually take shape, that benefit the unemployed and revitalizes the economy.
New Normal and New Rules in International Trade, Economics and Marketing
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Chen, Mingyi, "Impact of the new street vendor regulation on poverty alleviation and sustainable livelihood during COVID-19 in China" (2021). Kean Publications. 907.