China expands consumer trade-in scheme to revive economic growth
6 days, 15 hours ago

China expands consumer trade-in scheme to revive economic growth

The Hindu  

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. The statement did not specify the total cost of the incentives, however, a finance ministry official said at a press conference on Wednesday that the government had so far allocated 81 billion yuan for consumer goods trade-ins to support consumption in 2025. China last year apportioned about 150 billion yuan from the 1 trillion yuan special treasury bonds issuance to subsidise replacements of old appliances, cars, bicycles and other goods. A state planner official last week said China would sharply increase funding from ultra-long treasury bonds in 2025 to spur equipment upgrades and consumer goods trade-in scheme. "We expect that more supportive policy as well as a more supportive base effect will help retail sales growth rebound in 2025 compared to 2024," said Lynn Song, chief economist of Greater China at ING.

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History of this topic

Ample opportunities seen for foreign trade in 2025
4 days, 1 hour ago

Ample opportunities seen for foreign trade in 2025

China Daily  

China's foreign trade, particularly exports of mechanical and electrical products, along with its resilient supply chains, will be pivotal in curbing global inflation and driving the green transformation of many countries in 2025, market analysts and exporters said on Friday. Although external risks and challenges, including increasing trade barriers and geopolitical impacts, are growing, they said there are still ample …

China targets 'proactive' fiscal policy
4 days, 1 hour ago

China targets 'proactive' fiscal policy

China Daily  

China, with more forceful countercyclical adjustments in mind, will steer toward "very proactive" fiscal policy this year — including increasing the deficit-to-GDP ratio and issuing larger-scale government bonds, and will "front-load" its fiscal firepower to better underpin a positive economic growth trajectory, Vice-Minister of Finance Liao Min said on Friday. In particular, China's current real interest rate on government debt …

China expands consumer subsidies to boost spending as tariff risk looms
6 days, 15 hours ago

China expands consumer subsidies to boost spending as tariff risk looms

Live Mint  

China is widening the scope of its consumer goods trade-in program this year, as Beijing intensifies efforts to convince cautious households to spend as rising external uncertainties threaten exports’ ability to prop up economic growth. The National Development and Reform Commission, China’s top economic planner, said Wednesday that the government will include more products in its home appliance trade-in program …

China counts on microwaves, rice cookers to revive economic growth
1 week ago

China counts on microwaves, rice cookers to revive economic growth

CNN  

Beijing Reuters — China has 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 last year apportioned about 150 billion yuan from the 1 trillion yuan special treasury bonds …

Stimulating demand tops policy agenda
Trending News
4 weeks ago

Stimulating demand tops policy agenda

China Daily  

More policies are in the pipeline to supercharge domestic demand, with analysts forecasting a doubling of ultra-long special treasury bonds targeting consumption and an expansion of the scope of trade-in programs to encompass a wider range of product categories. Citing the recently concluded Central Economic Work Conference, analysts said stimulating domestic demand is a top priority among announced major tasks …

Stimulating demand tops policy agenda
Trending News
4 weeks ago

Stimulating demand tops policy agenda

China Daily  

Commerce Ministry eyes larger scope for consumer goods trade-in program More policies are in the pipeline to supercharge domestic demand, with analysts forecasting a doubling of ultra-long special treasury bonds targeting consumption and an expansion of the scope of trade-in programs to encompass a wider range of product categories. Yu said that following the reinforced countercyclical policies in late September, …

Experts see expansionary moves ahead
1 month ago

Experts see expansionary moves ahead

China Daily  

A view of Shanghai's Pudong New Area. China may roll out unprecedented expansionary moves in macroeconomic adjustments next year after a top-level meeting signaled a significant shift of mindset in prioritizing the expansion of domestic demand amid external uncertainties, policy researchers and economists said. Measures in the pipeline may include the highest official projected deficit ratio on record, a sharp …

How will Central Economic Work Conference shape 2025 economy?
Trending News
1 month ago

How will Central Economic Work Conference shape 2025 economy?

China Daily  

Shi Yu/China Daily China concluded the much-awaited annual Central Economic Work Conference on Dec 12, outlining the government's main economic objectives and policy plans for 2025, which are largely in line with our CEWC preview and Politburo meeting. Therefore, after the March NPC unveils next year's overall policy stimulus package, we think the government may also ramp up additional policy …

Policy support driving V-shaped recovery in Q4, experts say
Top News
1 month, 3 weeks ago

Policy support driving V-shaped recovery in Q4, experts say

China Daily  

The skyline of Beijing. There are signs of a "V-shaped" recovery in the Chinese economy with a raft of policy support measures taking swift effect and more spending plans in the pipeline to consolidate the momentum, experts at national think tanks said. Dong Shaopeng, an advisory committee member of the Securities Association of China, said that by advancing investment projects, …

Policy support driving V-shaped recovery in Q4, experts say
1 month, 3 weeks ago

Policy support driving V-shaped recovery in Q4, experts say

China Daily  

There are signs of a "V-shaped" recovery in the Chinese economy with a raft of policy support measures taking swift effect and more spending plans in the pipeline to consolidate the momentum, experts at national think tanks said. Dong Shaopeng, an advisory committee member of the Securities Association of China, said that by advancing investment projects, the ongoing round of …

Policy support driving V-shaped recovery in Q4, experts say
Top News
1 month, 3 weeks ago

Policy support driving V-shaped recovery in Q4, experts say

China Daily  

The skyline of Beijing. There are signs of a "V-shaped" recovery in the Chinese economy with a raft of policy support measures taking swift effect and more spending plans in the pipeline to consolidate the momentum, experts at national think tanks said. Dong Shaopeng, an advisory committee member of the Securities Association of China, said that by advancing investment projects, …

Policy support driving V-shaped recovery in Q4, experts say
Top News
1 month, 3 weeks ago

Policy support driving V-shaped recovery in Q4, experts say

China Daily  

The skyline of Beijing. There are signs of a "V-shaped" recovery in the Chinese economy with a raft of policy support measures taking swift effect and more spending plans in the pipeline to consolidate the momentum, experts at national think tanks said. Dong Shaopeng, an advisory committee member of the Securities Association of China, said that by advancing investment projects, …

Policy support driving V-shaped recovery in Q4, experts say
Top News
1 month, 3 weeks ago

Policy support driving V-shaped recovery in Q4, experts say

China Daily  

By Zhou Lanxu | chinadaily.com.cn | Updated: 2024-11-20 14:59 The skyline of Beijing. There are signs of a "V-shaped" recovery in the Chinese economy with a raft of policy support measures taking swift effect and more spending plans in the pipeline to consolidate the momentum, experts at national think tanks said. Dong Shaopeng, an advisory committee member of the Securities …

Policy support driving V-shaped recovery in Q4, experts say
1 month, 3 weeks ago

Policy support driving V-shaped recovery in Q4, experts say

China Daily  

The skyline of Beijing. There are signs of a "V-shaped" recovery in the Chinese economy with a raft of policy support measures taking swift effect and more spending plans in the pipeline to consolidate the momentum, experts at national think tanks said. Dong Shaopeng, an advisory committee member of the Securities Association of China, said that by advancing investment projects, …

China’s 10-year bond yields drop amid $1.4 billion debt refinancing program, more stimulus awaited
2 months ago

China’s 10-year bond yields drop amid $1.4 billion debt refinancing program, more stimulus awaited

Live Mint  

Yield for China's benchmark 10-year bonds have slid to their lowest in over a month after the government announced its 10 trillion yuan or $1.4 billion worth debt refinancing programme, Bloomberg reported. China's Debt Refinancing Programme — The Details The announcement was made after the National People’s Congress Standing Committee meeting on November 8, to “underwhelmed” reactions, as per the …

China approves $840B plan to refinance local government debt, boost slowing economy
2 months, 1 week ago

China approves $840B plan to refinance local government debt, boost slowing economy

Associated Press  

BEIJING — China on Friday approved a 6 trillion yuan plan to help local governments refinance their mountains of debt, in the latest push to rev up growth in the world’s second largest economy. Finance minister Lan Fo’an estimated that the hidden debt of local governments was 14.3 trillion yuan at the end of 2023. Lan said 2 trillion yuan …

China economy: Beijing approves $1.4 trillion debt package in latest measure to boost flagging growth
2 months, 1 week ago

China economy: Beijing approves $1.4 trillion debt package in latest measure to boost flagging growth

CNN  

Editor’s Note: Sign up for CNN’s Meanwhile in China newsletter which explores what you need to know about the country’s rise and how it impacts the world. Hong Kong CNN — China has approved a 10 trillion yuan plan to bolster its ailing economy by allowing local governments to refinance their debt, unveiling additional stimulus measures to counter a potentially …

China leverages fiscal toolbox to consolidate economic growth
2 months, 1 week ago

China leverages fiscal toolbox to consolidate economic growth

China Daily  

China has appropriately enhanced the intensity of the proactive fiscal policy so far this year, utilizing a combination of policy tools, including ultra-long special treasury bonds and tax and fee reductions to promote its sustained economic recovery. Some 700 billion yuan of funds raised via the ultra-long special treasury bonds have been allocated to support the implementation of major national …

China's Stimulus Package Boosts Investment, Consumption, and Sustainable Development
2 months, 2 weeks ago

China's Stimulus Package Boosts Investment, Consumption, and Sustainable Development

China Daily  

China's stimulus package has boosted investment growth, unlocked consumption potential, and facilitated economic recovery amid domestic downward pressure. The initiative includes incentives for large-scale equipment renewals and consumer goods trade-ins, which will pay dividends in terms of immediate economic benefits and lay the foundation for a more sustainable development path.

Growth target within reach on policy effort
2 months, 3 weeks ago

Growth target within reach on policy effort

The Independent  

With a potent set of new policies being implemented on various fronts, China is on course to achieving its full-year economic growth target of around 5 per cent, signalling the resilience of the country’s economy despite challenges at home and abroad, said a senior expert. Chen Wenling, chief economist at the China Centre for International Economic Exchanges in Beijing, said …

China's consumer goods trade-ins unleash market potential: official
2 months, 4 weeks ago

China's consumer goods trade-ins unleash market potential: official

China Daily  

Xinhua | Updated: 2024-10-18 21:25 A consumer learns about trade-in plans for home appliances at a store in Chongqing in July. SUN KAIFANG/FOR CHINA DAILY TIANJIN -- China's consumer goods trade-ins have unleashed new market demands, with over 1.4 million applications for automobile scrapping and renewal subsidies recorded so far, Vice-Minister of Commerce Sheng Qiuping said on Friday. As of …

China to unveil massive debt swap program to avert economic crisis
2 months, 4 weeks ago

China to unveil massive debt swap program to avert economic crisis

China Daily  

China is considering a massive debt swap program worth trillions of yuan to address its economic challenges. The program will focus on alleviating debt pressures facing local governments, boosting corporate performance, and stabilizing the regulatory environment. The central government plans to increase the debt limit by a large scale at once and replace the hidden debt of local governments, without …

China's Economic Revival: A Fiscal Stimulus Package to Boost Growth
3 months ago

China's Economic Revival: A Fiscal Stimulus Package to Boost Growth

China Daily  

China's economy is expected to receive substantial stimulus in 2024 as the government implements various measures to stabilize the real estate market and boost investment. The focus is on fiscal and monetary policies, with the government considering increasing fiscal deficits or issuing special treasury bonds to alleviate local government debt pressures. Additionally, the government plans to increase investment funding to …

Trade-in campaign bearing fruit
3 months, 2 weeks ago

Trade-in campaign bearing fruit

China Daily  

China's accelerated push for promoting trade-in deals for products is paying off, with significant growth in consumer spending on key goods like automobiles and home appliances, providing a solid base for continued economic recovery in the following months, said officials and experts. "The push for driving trade-in deals for consumer goods has effectively stimulated consumption potential, directly driving rapid sales …

China invests heavily in large-scale equipment renewals amid green drive
3 months, 3 weeks ago

China invests heavily in large-scale equipment renewals amid green drive

China Daily  

An employee works on the assembly line of a tractor manufacturer in Weifang, Shandong province. LI ZIHENG/XINHUA The technological transformation driven by China's large-scale equipment renewals will enable businesses to make significant strides in areas such as smart manufacturing, new energy and green technologies, further bolstering the country's economic momentum, said government officials on Tuesday. Complementing these efforts, the government …

China invests heavily in large-scale equipment renewals amid green drive
3 months, 3 weeks ago

China invests heavily in large-scale equipment renewals amid green drive

China Daily  

An employee works on the assembly line of a tractor manufacturer in Weifang, Shandong province. LI ZIHENG/XINHUA The technological transformation driven by China's large-scale equipment renewals will enable businesses to make significant strides in areas such as smart manufacturing, new energy and green technologies, further bolstering the country's economic momentum, said government officials on Tuesday. Complementing these efforts, the government …

Trade-in policy stimulating consumption
4 months, 2 weeks ago

Trade-in policy stimulating consumption

China Daily  

A man inspects a Honda Civic sedan at the old-for-new promotion event in Handan, Hebei province, in April. HU GAOLEI/FOR CHINA DAILY BEIJING — In a significant push to stimulate consumer spending, China has rolled out an expansive trade-in policy across multiple sectors. Zhang Haibo, a sales supervisor at Suning, a major home-appliance retailer in China, said many customers are …

Trade-in policy stimulating consumption
4 months, 2 weeks ago

Trade-in policy stimulating consumption

China Daily  

A man inspects a Honda Civic sedan at the old-for-new promotion event in Handan, Hebei province, in April. HU GAOLEI/FOR CHINA DAILY BEIJING — In a significant push to stimulate consumer spending, China has rolled out an expansive trade-in policy across multiple sectors. Zhang Haibo, a sales supervisor at Suning, a major home-appliance retailer in China, said many customers are …

Trade-in policy stimulating consumption
4 months, 2 weeks ago

Trade-in policy stimulating consumption

China Daily  

A man inspects a Honda Civic sedan at the old-for-new promotion event in Handan, Hebei province, in April. BEIJING — In a significant push to stimulate consumer spending, China has rolled out an expansive trade-in policy across multiple sectors. Zhang Haibo, a sales supervisor at Suning, a major home-appliance retailer in China, said many customers are attracted by the trade-in …

China revs up fiscal policy support to spur economic recovery
5 months, 2 weeks ago

China revs up fiscal policy support to spur economic recovery

China Daily  

A cashier at a bank in Taiyuan, Shanxi province counts renminbi notes. BEIJING - China is making efforts to step up its fiscal policy support and ensure the implementation of established policies, aiming to consolidate its economic recovery as rising external headwinds weigh on growth. The country will strengthen its fiscal policy to ensure the economy sustains its recovery momentum, …

China to step up fiscal policy implementation to spur economic recovery: official
5 months, 2 weeks ago

China to step up fiscal policy implementation to spur economic recovery: official

China Daily  

A Chinese clerk counts renminbi yuan banknotes in Nantong, East China's Jiangsu province. The country will issue the ultra-long special treasury bonds in a timely manner and make good use of the funds raised from the bond sales, Lin Zechang, of the Ministry of Finance, told a press conference. Lin said that the country will also speed up the issuance …

Intensifying policy implementation helps stabilize growth and expectation
5 months, 3 weeks ago

Intensifying policy implementation helps stabilize growth and expectation

China Daily  

A Chinese clerk counts renminbi yuan banknotes in Nantong, East China's Jiangsu province. Latest statistics show that up to now, all the 15,000 projects funded by such bonds have been launched, a sign of China's strengthened macro-regulation to play the role of government investment in boosting the economy. Restoring and expanding demand is the key to sustained economic recovery while …

Ultra-long special treasury bonds can promote quantitative growth
6 months, 4 weeks ago

Ultra-long special treasury bonds can promote quantitative growth

China Daily  

Chinese 100 yuan banknotes are seen in a counting machine at a bank in Beijing. The Ministry of Finance recently, for the first time, issued 50-year ultra-long special treasury bonds, with a total issue of 35 billion yuan. In order to make up the gap of fiscal revenue and expenditure, it is necessary to increase the issuance of government bonds, …

Ultra-long special treasury bonds can promote quantitative growth
6 months, 4 weeks ago

Ultra-long special treasury bonds can promote quantitative growth

China Daily  

Chinese 100 yuan banknotes are seen in a counting machine at a bank in Beijing. The Ministry of Finance recently, for the first time, issued 50-year ultra-long special treasury bonds, with a total issue of 35 billion yuan. In order to make up the gap of fiscal revenue and expenditure, it is necessary to increase the issuance of government bonds, …

【双语财讯】专家：发行超长期国债有助于刺激内需 支撑经济持续向好
8 months ago

【双语财讯】专家：发行超长期国债有助于刺激内需 支撑经济持续向好

China Daily  

财政部将于5月17日起发行1万亿元超长期特别国债，到11月中旬发行完毕。专家表示，发行超长期国债将有助于稳定预期、刺激内需并支撑经济持续向好。 Chinese 100 yuan banknotes are seen in a counting machine at a bank in Beijing. 根据财政部5月13日发布的消息，1万亿元超长期特别国债将于5月17日首发，到11月中旬发行完毕，包括20年期、30年期和50年期。 "The ultra-long bond issuance marks the introduction of a new policy tool that will be vital for supporting the government's investment in key projects, which will give full play to the crucial role of government investment in shoring up economic growth," said Zhang …

【双语财讯】专家：发行超长期国债有助于刺激内需 支撑经济持续向好
8 months ago

【双语财讯】专家：发行超长期国债有助于刺激内需 支撑经济持续向好

China Daily  

财政部将于5月17日起发行1万亿元超长期特别国债，到11月中旬发行完毕。专家表示，发行超长期国债将有助于稳定预期、刺激内需并支撑经济持续向好。 Chinese 100 yuan banknotes are seen in a counting machine at a bank in Beijing. 根据财政部5月13日发布的消息，1万亿元超长期特别国债将于5月17日首发，到11月中旬发行完毕，包括20年期、30年期和50年期。 "The ultra-long bond issuance marks the introduction of a new policy tool that will be vital for supporting the government's investment in key projects, which will give full play to the crucial role of government investment in shoring up economic growth," said Zhang …

China's new budget book reveals fiscal priorities for 2024
10 months ago

China's new budget book reveals fiscal priorities for 2024

China Daily  

A woman shows banknotes and coins included in the 2019 edition of the fifth series of the renminbi. Greater fiscal input The ultra-long special treasury bonds to be issued over each of the next several years, along with other arrangements including budget deficits, special-purpose bonds, preferential tax and fee policies as well as government subsidies, mark the country's strengthened fiscal …

Country's development potential continues to be released
10 months ago

Country's development potential continues to be released

China Daily  

A Chinese clerk counts renminbi yuan banknotes in Nantong, East China's Jiangsu province. In the first two months of this year, the total value of China's exports was $528.01 billion, up 7.1 percent year-on-year, and the total value of its imports was $402.85 billion, an increase of 3.5 percent compared with the same period last year. China's exports to the …

Fiscal moves to bolster recovery
10 months, 1 week ago

Fiscal moves to bolster recovery

China Daily  

Chinese 100 yuan banknotes are seen in a counting machine at a bank in Beijing, China. At a news conference on Wednesday on the sidelines of the ongoing annual session of the national legislature, Lan Fo'an, minister of finance, said work will be done to expand fiscal expenditure appropriately to ensure sufficient funding for major national strategic tasks, markedly increase …

Foreign firms still keen to ramp up investment
11 months ago

Foreign firms still keen to ramp up investment

China Daily  

Multinational corporations will continue to ramp up investment in China this year as the country's immense consumption potential and innovation capabilities have bolstered their confidence, market observers and business leaders said on Jan 30. Zhang Wei, vice-president of the Beijing-based Chinese Academy of International Trade and Economic Cooperation, said that foreign investors are increasingly valuing China's modern industrial infrastructure, innovative …

China pledges measures to boost domestic consumption in 2024
11 months, 1 week ago

China pledges measures to boost domestic consumption in 2024

China Daily  

Civilians are getting to know more details about the vehicle at a showroom in Fuzhou of East China's Fujian province, on Jan 11. BEIJING - China will introduce a raft of measures, such as stimulating purchases of vehicles and household appliances, to boost consumption this year, a commerce ministry official said Tuesday. "Automobiles, household appliances and home furnishing are the …

Increase in fiscal revenue result of and boost to solid recovery
11 months, 1 week ago

Increase in fiscal revenue result of and boost to solid recovery

China Daily  

Chinese 100 yuan banknotes are seen in a counting machine at a bank in Beijing, China. In 2023, the national fiscal revenue exceeded 21 trillion yuan, an increase of 6.4 percent from the previous year. In 2023, the Chinese government's tax revenue was 18,113 billion yuan, an increase of 8.7 percent year-on-year, among which the value-added tax was 6,933.2 billion …

Foreign firms still keen to ramp up investment
11 months, 1 week ago

Foreign firms still keen to ramp up investment

China Daily  

Multinational corporations will continue to ramp up investment in China this year as the country's immense consumption potential and innovation capabilities have bolstered their confidence, market observers and business leaders said on Tuesday. Zhang Wei, vice-president of the Beijing-based Chinese Academy of International Trade and Economic Cooperation, said that foreign investors are increasingly valuing China's modern industrial infrastructure, innovative ecosystem …

Foreign firms still keen to ramp up investment
11 months, 1 week ago

Foreign firms still keen to ramp up investment

China Daily  

Multinational corporations will continue to ramp up investment in China this year as the country's immense consumption potential and innovation capabilities have bolstered their confidence, market observers and business leaders said on Tuesday. Zhang Wei, vice-president of the Beijing-based Chinese Academy of International Trade and Economic Cooperation, said that foreign investors are increasingly valuing China's modern industrial infrastructure, innovative ecosystem …

Foreign firms still keen to ramp up investment
11 months, 2 weeks ago

Foreign firms still keen to ramp up investment

China Daily  

A view of Shanghai's Pudong New Area. Multinational corporations will continue to ramp up investment in China this year as the country's immense consumption potential and innovation capabilities have bolstered their confidence, market observers and business leaders said on Tuesday. Zhang Wei, vice-president of the Beijing-based Chinese Academy of International Trade and Economic Cooperation, said that foreign investors are increasingly …

China weighs more stimulus, considers $139 billion of special bonds: Report
11 months, 4 weeks ago

China weighs more stimulus, considers $139 billion of special bonds: Report

Live Mint  

China is considering 1 trillion yuan of new debt issuance under a special sovereign bond plan - which will be only the fourth such sale in the past 26 years, according to a Bloomberg report. In that case, Beijing took the unusual step of raising 2023’s fiscal deficit ratio to about 3.8 per cent of gross domestic product — an …

China's financing activity expands steadily
1 year ago

China's financing activity expands steadily

China Daily  

China's financing activity expanded steadily in 2023 as official data showed the country's outstanding aggregate social financing — the total amount of financing to the real economy — came in at 378.09 trillion yuan as of the end of 2023, up 9.5 percent year-on-year. The increment in aggregate social financing reached 35.59 trillion yuan last year, up by 3.41 trillion …

China allocates 2nd batch of funds raised by 1-trillion-yuan additional govt bonds
1 year ago

China allocates 2nd batch of funds raised by 1-trillion-yuan additional govt bonds

China Daily  

This aerial photo taken on Nov 8, 2023 shows a view of Hongze Lake in Huai'an, East China's Jiangsu province. BEIJING -- China has allocated the second batch of funds raised by the issuance of an additional 1-trillion-yuan of government bonds for flood control and other projects. The National Development and Reform Commission, the country's top economic planner, said Saturday …

First batch of projects to be supported with additional treasury bonds unveiled
1 year ago

First batch of projects to be supported with additional treasury bonds unveiled

China Daily  

China has issued a budget for the first batch of projects to use funds raised through the additional 1 trillion yuan of sovereign bonds announced in October, China Daily learned from the Ministry of Finance. Totaling 237.9 billion yuan, the budgeted amount was issued recently and will be allocated as subsidy funds to three areas: 107.5 billion yuan for post-disaster …

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