After the epidemic

the global economy was relatively weak

and China began to issue a large number of consumer vouchers to boost the economy. This study focuses on the implementation effect of consumer bond policy in regional economy. Taking Wenzhou City

Zhejiang Province as a typical case

this paper systematically evaluates the short-term and long-term impact of consumer bond policy on domestic demand from 2022-2023 by using double difference method (did)

behavioral factor analysis

quantitative analysis

case analysis and effect analysis. The study found that Wenzhou consumption voucher policy leveraged the consumption multiplier by 18 times

significantly improving the recovery speed of catering

retail

automobile and other industries

but there are potential risks such as consumer overdraft effect and business dependence. The innovation of the research lies in verifying the regional adaptability of the policy through single city data

providing a replicable path for economic stimulus in small and medium-sized cities

and revealing that policy design needs to balance accuracy and sustainability.