Guess what, folks? China is stepping up its game for 2025! 🚀 The Chinese mainland has just rolled out fresh measures to expand its old-for-new exchange program and equipment renewal policies, aiming to supercharge consumer spending and boost industrial upgrades.
So, what's new? The number of household appliance categories eligible for the trade-in subsidy is expanding from 8 to a whopping 12! That's right, more of your old gadgets can now be swapped for shiny new ones, with a sweet subsidy of up to 20% off the sales price per item. Talk about a deal! 💰
But wait, there's more! The updated policies also include funding support for equipment replacement in the digital, industrial safety, and agricultural facilities sectors. This means a big thumbs-up for tech advancements and safer industries. 👍
Following the announcement, stocks of major household appliance manufacturers, e-commerce companies, and retailers saw a noticeable rise. 📈 Seems like everyone is excited about these changes!
And here's the kicker: By mid-December, the trade-in policies had already led to the replacement of 5.8 million vehicles, with automakers hitting record sales! 🚗 Over 33 million consumers purchased more than 52 million items through the old-for-new program, and over two million sets of outdated equipment were upgraded. That's a whole lot of new stuff!
All in all, the old-for-new exchanges drove sales over 1 trillion yuan (that's about $144 billion!). It's not just about shopping – it's fueling consumption, pumping up investments, and keeping the green transition on track. 🌱
Looks like 2025 is gearing up to be a year of innovation and growth for China. Stay tuned for more updates! 📢
Reference(s):
cgtn.com
