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China expands consumer trade-in scheme to revive economic growth

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/ ]