Trade-in initiative to be expanded
1 month, 1 week ago

Trade-in initiative to be expanded

China Daily  

JIN DING/CHINA DAILY With boosting domestic consumption high on China's policy agenda for 2025, the country's consumer goods trade-in initiative is set to play a crucial role in driving economic growth and offsetting the impact of persistent global trade protectionism and tepid external demand, officials and experts said. The trade-in initiative implemented last year has proved effective in spurring consumer spending, promoting industrial upgrades, facilitating the green transition and enhancing people's living standards, said Sheng Qiuping, China's vice-minister of commerce. Wang Qing, chief macroeconomic analyst at Golden Credit Rating International, speculated on the scale of this increase, saying, "China is likely to double the funding for its consumer goods trade-in initiative this year to 300 billion yuan." In early January, the Ministry of Finance front-loaded 81 billion yuan in funding for this year's consumer goods trade-in program.

Growth China Consumer Consumer Goods Market Domestic Home Appliances Consumption 2025 Chinese Increase Initiative Goods Domestic Consumption  expanded  consumption  initiative  consumer  tradein  market  goods  growth  2025  increase  domestic

History of this topic

More consumption incentives needed
2 weeks, 6 days ago

More consumption incentives needed

China Daily  

Heightened efforts are needed to allow more households in townships and counties to enjoy consumption-friendly subsidies from the consumer goods trade-in program, and reinforce the dominant position of enterprises in technological innovation, said Jia Shaoqian, chairman of Chinese home appliance manufacturer Hisense Group. "The country's consumer goods trade-in program has not only stimulated the consumer market and bolstered consumption upgrades, …

Trade-in initiative to be expanded
1 month, 1 week ago

Trade-in initiative to be expanded

China Daily  

JIN DING/CHINA DAILY With boosting domestic consumption high on China's policy agenda for 2025, the country's consumer goods trade-in initiative is set to play a crucial role in driving economic growth and offsetting the impact of persistent global trade protectionism and tepid external demand, officials and experts said. The trade-in initiative implemented last year has proved effective in spurring consumer …

China builds economic fortress as US trade pressure mounts: Report
1 month, 2 weeks ago

China builds economic fortress as US trade pressure mounts: Report

Firstpost  

China is ramping up self-sufficiency in key industries like EVs, semiconductors, and AI to counter US trade restrictions, though challenges in chip production and global market tensions persist. China reduced its reliance on US farm imports Since the US and China imposed tit-for-tat tariffs in their trade war during Donald Trump’s first presidential term, Beijing has taken steps to reduce …

Consumers to play bigger role in spurring growth
2 months ago

Consumers to play bigger role in spurring growth

China Daily  

A consumer checks out Lenovo laptops in Shanghai in May. CHINA DAILY China's consumption, powered by a more proactive fiscal policy and a moderately loose monetary policy, will bring out greater vitality and play a bigger role in spurring overall economic growth this year, said officials and executives. In particular, the country's trade-in initiatives, which have contributed to a more …

Nation's foreign trade hits new high
2 months, 1 week ago

Nation's foreign trade hits new high

China Daily  

Photo shows a view of Nansha Port in Guangzhou, South China's Guangdong province. The total value of China's foreign trade reached a record high of 43.85 trillion yuan in 2024, marking a 5 percent year-on-year growth, customs statistics showed. The country's exports amounted to 25.45 trillion yuan last year, an increase of 7.1 percent year-on-year, while imports totaled 18.39 trillion …

Ample opportunities seen for foreign trade in 2025
2 months, 2 weeks 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 …

Can rice cookers and microwaves help save China’s economy?
2 months, 2 weeks ago

Can rice cookers and microwaves help save China’s economy?

Firstpost  

China is expanding its trade-in programme to include household appliances like rice cookers and microwaves, offering subsidies to stimulate consumer spending. File Image/Reuters China, the world’s second-largest economy, is grappling with weak consumer demand, a deepening property crisis, and high unemployment rates, all of which have slowed growth and raised fears of deflation. China expands scope of subsidies China’s trade-in …

China expands consumer subsidies to boost spending as tariff risk looms
2 months, 2 weeks 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 expands consumer trade-in scheme to revive economic growth
2 months, 2 weeks 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 …

China counts on microwaves, rice cookers to revive economic growth
2 months, 2 weeks 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 …

China to increase funding support for equipment upgrades, consumer goods trade-in programs
2 months, 3 weeks ago

China to increase funding support for equipment upgrades, consumer goods trade-in programs

China Daily  

Customers apply for subsidies under the trade-in program in Hangzhou, Zhejiang province, in October. BEIJING -- China will significantly increase the issuance of ultra-long special treasury bonds in 2025 to support the implementation of large-scale equipment upgrades and consumer goods trade-in programs, according to a government press conference held here Friday. Yuan Da, deputy secretary-general of the National Development and …

Trade-in program promotes greener consumption
2 months, 3 weeks ago

Trade-in program promotes greener consumption

China Daily  

Customers apply for subsidies under the trade-in program in Hangzhou, Zhejiang province, in October. Tens of millions of people across China have benefited this year from a multibillion-dollar consumer goods trade-in program, amid government efforts to help the world's second-largest consumer market cope with headwinds from external uncertainties and insufficient domestic demand. A wide range of consumer goods, including home …

Trade-in program promotes greener consumption
2 months, 3 weeks ago

Trade-in program promotes greener consumption

China Daily  

Customers apply for subsidies under the trade-in program in Hangzhou, Zhejiang province, in October. Tens of millions of people across China have benefited this year from a multibillion-dollar consumer goods trade-in program, amid government efforts to help the world's second-largest consumer market cope with headwinds from external uncertainties and insufficient domestic demand. A wide range of consumer goods, including home …

Stimulating demand tops policy agenda
Trending News
3 months, 1 week 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, …

Stimulating demand tops policy agenda
Trending News
3 months, 1 week 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
3 months, 1 week 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. Citing the recently concluded Central Economic Work Conference, analysts said stimulating …

Experts see expansionary moves ahead
3 months, 1 week 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 …

Policy support driving V-shaped recovery in Q4, experts say
Top News
4 months 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
4 months 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
4 months 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
Top News
4 months 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
4 months 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 has potential to take the lead in global digital trade, says former commerce vice-minister
4 months, 1 week ago

China has potential to take the lead in global digital trade, says former commerce vice-minister

China Daily  

China should further opening-up, improve its innovation ability and strengthen international cooperation to take the lead in global digital trade, said Wei Jianguo, China's former vice-minister of commerce, at the 2024 Global Digital Trade Conference recently held in Wuhan, Hubei province. "We need to step up innovation and launch more public products for digital trade to the world to increase …

China has potential to take the lead in global digital trade, says former commerce vice-minister
4 months, 1 week ago

China has potential to take the lead in global digital trade, says former commerce vice-minister

China Daily  

Wei Jianguo, China's former vice-minister of commerce. China should further opening-up, improve its innovation ability and strengthen international cooperation to take the lead in global digital trade, said Wei Jianguo, China's former vice-minister of commerce, at the 2024 Global Digital Trade Conference recently held in Wuhan, Hubei province. "We need to step up innovation and launch more public products for …

Foreign trade poised for steady growth amid headwinds
Top News
4 months, 2 weeks ago

Foreign trade poised for steady growth amid headwinds

China Daily  

China's foreign trade in goods 2024. CHINA DAILY China's foreign trade will sustain steady growth for the remainder of 2024 and exporters should prepare for potential challenges, including higher tariffs, by enhancing product competitiveness and expanding sales in emerging markets, government officials and market observers said on Thursday. China's foreign trade increased 5.2 percent year-on-year to 36.02 trillion yuan in …

Foreign trade poised for steady growth amid headwinds
4 months, 2 weeks ago

Foreign trade poised for steady growth amid headwinds

China Daily  

China's foreign trade in goods 2024. CHINA DAILY China's foreign trade will sustain steady growth for the remainder of 2024 and exporters should prepare for potential challenges, including higher tariffs, by enhancing product competitiveness and expanding sales in emerging markets, government officials and market observers said on Thursday. China's foreign trade increased 5.2 percent year-on-year to 36.02 trillion yuan in …

China's Stimulus Package Boosts Investment, Consumption, and Sustainable Development
4 months, 3 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.

China's consumer goods trade-ins unleash market potential: official
5 months, 1 week 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 …

Trade-in campaign bearing fruit
6 months 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 …

Country's foreign trade shows strong resilience
6 months, 2 weeks ago

Country's foreign trade shows strong resilience

China Daily  

Container vessels unload cargo at a terminal in Qingdao, Shandong province, in August. China's foreign trade has continued to demonstrate strong resilience, and the nation's enhanced export channels with emerging economies, coupled with ongoing support from its opening-up policies, will drive its economic growth throughout the year despite external challenges, government officials and experts said. According to the General Administration …

Trade-in policy stimulating consumption
6 months, 3 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
6 months, 3 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
6 months, 3 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 …

Nationwide trade-in initiative aims to spur sluggish growth
7 months, 1 week ago

Nationwide trade-in initiative aims to spur sluggish growth

China Daily  

China has initiated a nationwide push to encourage consumers to trade in their old goods for new ones, with a particular focus on key products such as automobiles, household appliances and home improvement items. Against the backdrop of a global economic landscape marked by sluggish growth momentum and recurrent issues such as geopolitical conflicts and international trade tensions, China faces …

China's consumer goods trade-in program spurs car, home appliance sales
9 months ago

China's consumer goods trade-in program spurs car, home appliance sales

China Daily  

Visitors watch a new energy vehicle equipped with Huawei's Qiankun system at the 2024 Beijing International Automotive Exhibition in Beijing, China, April 25, 2024. BEIJING -- A consumer goods trade-in program rolled out by the Chinese government in March has spurred rising sales of products such as cars, home appliances and furniture. In May, retail sales of cars exceeded 2.27 …

China's trade-in program stimulates consumer market vitality
10 months, 2 weeks ago

China's trade-in program stimulates consumer market vitality

China Daily  

A BYD Ocean-M electric car is displayed at the 2024 Auto China in Beijing on April 25, 2024. BEIJING - China's new round of consumer goods trade-ins has achieved positive initial results over the past few months, raising market confidence that successful revival of consumption will offer stronger impetus to the economy. China's State Council released an action plan in …

Initiative focuses on high-quality growth
1 year ago

Initiative focuses on high-quality growth

China Daily  

JIN DING/CHINA DAILY China has rolled out a package of policy measures promoting large-scale equipment upgrades and consumer goods trade-ins in an effort to encourage companies to invest in themselves and boost consumption to help the economy achieve sustainable and high-quality growth, officials and experts said. The plan said it's imperative to ensure that the upgraded equipment and replaced consumer …

Foreign firms still keen to ramp up investment
1 year, 1 month 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
1 year, 1 month 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 …

Foreign firms still keen to ramp up investment
1 year, 1 month 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
1 year, 1 month 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
1 year, 1 month 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's vibrant drive for greater trade liberalization invigorates global services trade
1 year, 6 months ago

China's vibrant drive for greater trade liberalization invigorates global services trade

China Daily  

Visitors learn about a new vehicle of Tesla during the 2023 China International Fair for Trade in Services at China National Convention Center in Beijing, capital of China, Sept 3, 2023. BEIJING -- China has long been wedded to bolstering services trade across the world, viewing it as a key component in the country's growth strategy and international cooperation. In …

China's vibrant drive for greater trade liberalization invigorates global services trade
1 year, 6 months ago

China's vibrant drive for greater trade liberalization invigorates global services trade

China Daily  

Visitors learn about a new vehicle of Tesla during the 2023 China International Fair for Trade in Services at China National Convention Center in Beijing, capital of China, Sept 3, 2023. BEIJING -- China has long been wedded to bolstering services trade across the world, viewing it as a key component in the country's growth strategy and international cooperation. In …

Policy support set to boost consumption
1 year, 10 months ago

Policy support set to boost consumption

China Daily  

Nation will deepen reforms to increase incomes, bridge urban-rural wealth gap China will step up its policy support to increase consumer spending and unleash the country's purchasing potential, a key force that propels the nation's economic recovery and underpins its endeavors toward modernization and prosperity, experts said. The policy push, including the removal of administrative restrictions in the housing and …

Policy support set to boost consumption
1 year, 10 months ago

Policy support set to boost consumption

China Daily  

People choose products in a duty-free shop in Haikou, South China's Hainan province on Jan 26, 2023. The policy push, including the removal of administrative restrictions in the housing and automobile markets, is among China's priorities in order to revive the vibrancy of its consumer market because the central leadership has identified insufficient domestic demand as an acute challenge facing …

Policy support set to boost consumption
1 year, 10 months ago

Policy support set to boost consumption

China Daily  

People choose products in a duty-free shop in Haikou, South China's Hainan province on Jan 26, 2023. The policy push, including the removal of administrative restrictions in the housing and automobile markets, is among China's priorities in order to revive the vibrancy of its consumer market because the central leadership has identified insufficient domestic demand as an acute challenge facing …

Policy support set to boost consumption
1 year, 10 months ago

Policy support set to boost consumption

China Daily  

Nation will deepen reforms to increase incomes, bridge urban-rural wealth gap China will step up its policy support to increase consumer spending and unleash the country's purchasing potential, a key force that propels the nation's economic recovery and underpins its endeavors toward modernization and prosperity, experts said. The policy push, including the removal of administrative restrictions in the housing and …

Measures set to strengthen foreign trade
1 year, 11 months ago

Measures set to strengthen foreign trade

China Daily  

Trade: Burdens of enterprises to be eased China will step up efforts to stabilize foreign trade performance while improving the trade structure through a raft of policy measures, government officials said at a news conference on Sunday. Wu Haiping, director-general of the General Administration of Customs' department of general operations, said that in order to address the difficulties and bottlenecks …

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