中文

Journal of Applied Sciences ›› 2022, Vol. 40 ›› Issue (2): 338-348.doi: 10.3969/j.issn.0255-8297.2022.02.015

• Computer Science and Applications • Previous Articles    

Impact of Epidemic on Consumer Economy via Transaction Data

PAN Jing1,2, CHAI Hongfeng3, QIN Zheng4, SUN Quan1,2, GAO Pengfei2, ZHENG Jianbin2   

  1. 1. School of Computer Science, Fudan University, Shanghai 200240, China;
    2. China UnionPay, Shanghai 201210, China;
    3. Faculty of Engineering Management, China Academy of Engineering, Beijing 100088, China;
    4. Southern University of Science and Technology, Business faculty, Shenzhen 518055, Guangdong, China
  • Received:2021-03-05 Published:2022-04-01

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Abstract: The sudden COVID-19 pandemic has led to unprecedented impact on China's economic and social development, especially on consumer economy. Payment is the most closely related economic activity regarding consumers, the data of which can accurately capture the characteristic of the consumer economy. Given the point of view, this paper makes an in-depth exploration in the research direction of payment data. Based on the transaction data from China UnionPay, this paper quantifies the impact of the epidemic on consumer economy and makes a comparative analysis of different provinces and industries. The paper quantitatively reveals that the epidemic progress significantly affects the consumer confidence and the development of consumer economy. According to our analysis, it is unwise to restart work resumption when the epidemic is still not under effective control. From the perspective of payment, this paper profoundly tells about the story of how China fights against the epidemic and puts forward relevant suggestions for the follow-up epidemic prevention and control as well as the comprehensive economic recovery policies.

Key words: COVID-19 pandemic, transaction data, consumer economy, quantitative analysis

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