China expands consumer subsidies to boost spending as tariff risk looms
1 day, 7 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 in 2025, extending state subsidies to microwave ovens, water purifiers, dishwasher and rice cookers. It is unclear how quickly domestic demand can pick up the slack, particularly without a big step-up in stimulus like a vast expansion of the consumer goods trade-in program to boost household spending, they said. The total amount of funds raised through ultralong Treasury bonds to be used to support the equipment upgrade and consumer trade-in programs will increase significantly this year when compared with 2024, said Zhao Chenxin, a senior state planning official, adding that details will be made public at March’s gathering of lawmakers.

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History of this topic

China’s Services Activity Jumps as Stimulus Boosts Local Demand
1 week, 2 days ago

China’s Services Activity Jumps as Stimulus Boosts Local Demand

Live Mint  

China’s services activity expanded at the fastest pace in nine months while the manufacturing sector grew for a third straight month, signaling improving domestic demand after Beijing’s stimulus blitz. “But the boost probably won’t last more than a few quarters, with Trump likely to follow through on his tariff threat next year and persistent structural imbalances still weighing on the …

Targeted measures to boost consumption
2 weeks, 6 days ago

Targeted measures to boost consumption

China Daily  

Consumers check out festive products in Nanjing, Jiangsu province, on Friday. LIU JIANHUA/FOR CHINA DAILY China will roll out an array of targeted measures to simultaneously boost consumption and deliver tangible benefits to the people after policymakers signaled a shift in prioritizing the expansion of domestic demand amid external uncertainties during a recent tone-setting meeting, officials and analysts said. "Boosting …

Stimulating demand tops policy agenda
Trending News
3 weeks, 1 day 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
3 weeks, 1 day 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
3 weeks, 5 days 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 …

China pledges more borrowing and interest rate cuts to counter Trump’s tariff threats
4 weeks ago

China pledges more borrowing and interest rate cuts to counter Trump’s tariff threats

CNN  

China pledged Thursday to increase the budget deficit, borrow more and loosen monetary policy to maintain stable economic growth as it girds for more trade tensions with the United States where Donald Trump is returning as president. A separate readout from state news agency Xinhua, watched by financial markets for references to the yuan currency, kept a pledge to “maintain …

China signals more forceful stimulus to come next year
1 month ago

China signals more forceful stimulus to come next year

Live Mint  

China’s leaders signaled a more forceful policy approach for next year to boost domestic demand, as the world’s second-largest economy braces for escalating trade tensions with the incoming Trump administration. The 24-member Politburo, China’s top decision-making body, pledged Monday in a meeting to implement more proactive fiscal policy and moderately loose monetary policy for next year. Meanwhile, the mention of …

China's Stimulus Package Boosts Investment, Consumption, and Sustainable Development
2 months, 1 week 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
2 months, 3 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 …

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 …

Trade-in policy stimulating consumption
4 months, 1 week 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, 1 week 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, 1 week 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 …

Experts call for further restoring consumer sentiment
4 months, 3 weeks ago

Experts call for further restoring consumer sentiment

China Daily  

Customers select fruit at a supermarket in Dongying, Shandong province, earlier this month. LIU ZHIFENG/XINHUA Restoring consumer sentiment and revitalizing confidence among consumers will be among the key priorities for China's economic growth for the rest of this year, as policymakers shift their focus more toward seeking a consumer-led recovery, according to experts. "Although the economy still faces several headwinds, …

Economists advocate direct support to consumers
4 months, 3 weeks ago

Economists advocate direct support to consumers

China Daily  

Tourists visit a cultural block in Xiangyang, Hubei province, June 10, 2024. China's central government should consider additional direct support to consumers worth at least 1 trillion yuan — either cash or vouchers — in the rest of the year to effectively address the pressing challenge of lackluster domestic demand, economists from government-backed think tanks said. Consumption — which contributed …

Economists advocate direct support to consumers
4 months, 3 weeks ago

Economists advocate direct support to consumers

China Daily  

Tourists visit a cultural block in Xiangyang, Hubei province, June 10, 2024. China's central government should consider additional direct support to consumers worth at least 1 trillion yuan — either cash or vouchers — in the rest of the year to effectively address the pressing challenge of lackluster domestic demand, economists from government-backed think tanks said. Consumption — which contributed …

Economists advocate direct support to consumers
4 months, 3 weeks ago

Economists advocate direct support to consumers

China Daily  

By ZHOU LANXU and OUYANG SHIJIA | China Daily | Updated: 2024-08-13 09:25 Tourists visit a cultural block in Xiangyang, Hubei province, June 10, 2024. China's central government should consider additional direct support to consumers worth at least 1 trillion yuan — either cash or vouchers — in the rest of the year to effectively address the pressing challenge of …

China sees mild price growth as consumer demand expands
4 months, 4 weeks ago

China sees mild price growth as consumer demand expands

China Daily  

BEIJING - China's consumer prices gained mild growth in July as the domestic consumer demand continued to expand, official data showed Friday. The consumer price index, a main gauge of inflation, was up 0.5 percent year-on-year in July, slightly higher than the 0.2 percent increase in June, according to the National Bureau of Statistics. NBS statistician Dong Lijuan said that …

China sees mild price growth as consumer demand expands
5 months ago

China sees mild price growth as consumer demand expands

China Daily  

BEIJING - China's consumer prices gained mild growth in July as the domestic consumer demand continued to expand, official data showed Friday. The consumer price index, a main gauge of inflation, was up 0.5 percent year-on-year in July, slightly higher than the 0.2 percent increase in June, according to the National Bureau of Statistics. NBS statistician Dong Lijuan said that …

China revs up fiscal policy support to spur economic recovery
5 months, 1 week 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, …

Consumption's big role in focus
6 months, 2 weeks ago

Consumption's big role in focus

China Daily  

Zhu Min, former deputy managing director of the International Monetary Fund, at the Reinvigorating Consumption forum on Tuesday. ZOU HONG/CHINA DAILY Despite the pressure of lackluster domestic demand, China still has the capability and conditions to further tap consumption potential to sustain high-quality growth, experts and entrepreneurs said at the 15th Annual Meeting of the New Champions, also known as …

Initiative focuses on high-quality growth
9 months, 2 weeks 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 …

China pledges measures to boost domestic consumption in 2024
11 months 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 …

China expected to maintain steady growth
1 year ago

China expected to maintain steady growth

China Daily  

A view of the Huangpu River in Shanghai. Experts say consumption will remain primary driver of economy in 2024 China's economy is set to maintain robust and steady growth in 2024 as domestic demand further recovers, driven by ramped-up macroeconomic policy support and the deepening of industrial upgrading, senior experts said. Traditional consumption areas such as vehicles and electronics are …

China Announce New Measures to Boost Consumption Amid Economic Slowdown
1 year, 5 months ago

China Announce New Measures to Boost Consumption Amid Economic Slowdown

News 18  

Chinese authorities announced new measures to boost consumption on Monday, as fresh economic data suggested that the country’s post-Covid recovery is running out of steam and growth is slowing. Official figures released Monday showed factory activity contracting for the fourth straight month in July, adding to a run of dismal economic data that has ramped up calls for government support …

Policy support set to boost consumption
1 year, 8 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, 8 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, 8 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 …

China to expand fiscal spending to support economic recovery
2 years ago

China to expand fiscal spending to support economic recovery

China Daily  

A worker counts Chinese currency renminbi at a bank in Linyi, East China's Shandong province. China will appropriately expand fiscal spending as the government aims to provide "more direct and effective" fiscal support for economic recovery in 2023, according to the Ministry of Finance. "We will appropriately expand fiscal spending by optimizing the tool mix of fiscal deficit, local government …

‘China plans over $143 bn push to boost domestic chips, compete with U.S.’
2 years ago

‘China plans over $143 bn push to boost domestic chips, compete with U.S.’

The Hindu  

China is working on a more than 1 trillion yuan support package for its semiconductor industry, three sources said, in a major step towards self sufficiency in chips and to counter U.S. moves aimed at slowing its technological advances. Beijing plans to roll out one of its biggest fiscal incentive packages over five years, mainly as subsidies and tax credits …

China pledges support for ailing economy, analysts doubt impact
2 years, 7 months ago

China pledges support for ailing economy, analysts doubt impact

Al Jazeera  

Beijing says it will roll out additional tax cuts and postpone social security payments for firms to support growth. China has pledged tax cuts and infrastructure spending to support economic growth, as economists poured doubt on a strong rebound for the world’s second-largest economy as long as lockdowns persist. Beijing will increase annual tax cuts by more than 140 billion …

Domestic consumers provide spending boost for economy
4 years, 5 months ago

Domestic consumers provide spending boost for economy

China Daily  

While having morning coffee at a Starbucks within a department store near my apartment in northeast Beijing, it was impossible to ignore the retail activity all around me. China, therefore, will continue to be a huge opportunity, not just for Chinese companies wanting to sell their goods and services, but also to foreign multinationals, particularly those facing less favorable economic …

Domestic consumers provide spending boost for economy
4 years, 5 months ago

Domestic consumers provide spending boost for economy

China Daily  

While having morning coffee at a Starbucks within a department store near my apartment in northeast Beijing, it was impossible to ignore the retail activity all around me. China, therefore, will continue to be a huge opportunity, not just for Chinese companies wanting to sell their goods and services, but also to foreign multinationals, particularly those facing less favorable economic …

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