US EditionMultiple Chinese Cities Pause Trade-in Subsidies, Sparking Confusion Amid 618 Sales Rush · TechNode
3 Articles
3 Articles
Multiple Chinese cities pause trade-in subsidies, sparking confusion amid 618 sales rush · TechNode
Several cities in China, including Zhenjiang and Yangzhou in Jiangsu province and Suzhou in Gansu province, have announced a temporary pause on trade-in subsidies for consumer goods, triggering widespread concern among consumers and industry watchers. Data from the Ministry of Commerce show that from January to May, the program helped drive more than RMB 1.1 trillion ($152 billion) in sales across five major product categories, with 175 million …
Since last year, the Chinese Communist Party has promoted a large-scale "trade-in" policy for consumer goods in an attempt to boost domestic demand. However, recently, it has been reported in many places that the "national subsidies" to promote the trade-in of mobile phones and home appliances have been stopped one after another because the subsidies have been exhausted. The setback of this policy of the Chinese Communist Party has attracted att…
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