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China expands consumer trade-in scheme to revive economic growth


//business-finance.news-articles.net/content/202 .. r-trade-in-scheme-to-revive-economic-growth.html
Published in Business and Finance on Wednesday, January 8th 2025 at 1:00 GMT by Reuters   Print publication without navigation

  • China added more home appliances to the list of products that can be used in its consumer trade-in scheme and will offer subsidies for additional digital goods this year, in an effort to revive demand in the sluggish household sector.

China has announced plans to expand its consumer trade-in program for home appliances through 2025, aiming to boost domestic consumption and stimulate economic growth. The initiative, which was initially set to conclude in 2023, will now encourage the replacement of old appliances with new, energy-efficient models. This move is part of a broader strategy to promote green consumption, reduce energy consumption, and support the recycling industry. The program includes incentives for consumers to trade in old air conditioners, washing machines, refrigerators, and televisions, with the government offering subsidies and discounts to make the transition more appealing. Additionally, the expansion seeks to address the issue of overcapacity in manufacturing by encouraging the purchase of new goods, thereby supporting both consumer spending and industrial production.

Read the Full Reuters Article at:
[ https://www.reuters.com/world/china/china-expands-scope-consumer-trade-ins-home-appliances-2025-01-08/ ]

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