BEIJING, Aug. 24 (Xinhua) -- In a significant push to stimulate consumer spending, China has rolled out an expansive trade-in policy across multiple sectors.
From automobiles and home appliances to real estate, the initiative aims to encourage the replacement of outdated goods with newer and more advanced options.
Experts believe that trade-in programs for consumer goods are more than just product replacement, but represent upgrades and quality improvements. Such programs not only bring higher-quality products but also stimulate consumer demand, energizing domestic consumption and reinforcing economic recovery. For businesses and industries, this presents a significant opportunity for growth.
AUTOMOBILES
Wu Qiang, a resident of eastern Jiangsu Province, recently received a 20,000 yuan (about 2,803 U.S. dollars) subsidy for trading in his 16-year-old fuel vehicle for an electric car through the trade-in program.
Initially, he considered selling his old car to a dealership for just 4,000 yuan. While he was weighing his options, China issued a new circular last week that increased financial incentives to encourage consumers to scrap their old vehicles and buy new ones.
According to the circular, subsidies for trade-ins of new-energy passenger vehicles have doubled from 10,000 yuan -- a figure stipulated in an April document -- to 20,000 yuan. Subsidies for trade-ins of fuel passenger vehicles have also risen from 7,000 yuan to 15,000 yuan.
Encouraged by the latest policy, Wu quickly decided to scrap his old car and purchased a new Mercedes-Benz Smart electric vehicle, then applied for the subsidy.
Dealerships are also seeing the opportunities. For instance, Jiang, a car salesman working at a shopping mall in Beijing's Chaoyang District, said that many customers are now upgrading their vehicles, with the trade-in program offering significant financial incentives.
Major automakers like FAW-Volkswagen, BAIC and Chery Automobile are also participating, offering up to 60,000 yuan in trade-in subsidies.
As of Thursday, the Ministry of Commerce has received over 680,000 applications for vehicle-scrapping subsidies. From January to July, over 3.5 million vehicles were scrapped and recycled, a 37.4 percent year-on-year increase.
HOME APPLIANCES
In the home appliance sector, the trade-in program has also been well-received.
Beijing resident Yu Qian recently purchased a new refrigerator. "My old refrigerator was outdated. When I learned about the trade-in policy, I decided to upgrade. The model I wanted was originally priced at 8,999 yuan, but with the trade-in subsidy and various discounts from the store, I ended up paying only 7,020 yuan, saving quite a bit of money."
Zhang Haibo, a sales supervisor at Suning, a major home-appliance retailer in China, echoed that many customers are attracted to the trade-in program, combined with government subsidies, store discounts and brand promotions.
Suning's data reveals that nearly 40 percent of its consumers have chosen to purchase new home appliances through trade-in programs this year, including air conditioners, washing machines and large-screen TVs.
China's e-commerce platforms like JD.com and Taobao are also providing diverse trade-in schemes for customers.
Wu Sa from the Chinese Academy of Macroeconomic Research pointed out that China, with its large population, has a vast market for durable goods, representing significant potential for the replacement market. The expected market space for replacing old automobiles and home appliances is expected to exceed one trillion yuan.
HOUSING
The housing sector has also embraced trade-ins, with over 100 cities encouraging homeowners to swap old properties for new ones with an additional payment. This scheme has been taken a step further in the Yangtze River Delta region, where intercity housing trade-ins are now available for the first time.
Under this new scheme, homeowners can trade in pre-owned residential properties, not just within Wuxi but also in the neighboring cities of Suzhou and Changzhou, for new homes in the Liangxi District of Wuxi.
Guo Feng, who works in Wuxi but owns a home in Suzhou, can now trade his property in Suzhou for one in Wuxi, thanks to the expanded program.
To date, nearly 140 transactions have been completed under this housing trade-in program.
Experts believe these trade-in programs address the demand for advanced, eco-friendly and personalized options, shifting the focus from mere availability to quality and innovation.
人工智能客服不能阻碍沟通 AI客服的理想与现实总是存在落差。我们当然希望AI客服能更“聪明”一些。但在此之前，企业不应过分依赖AI客服，而该给消费者多一个选项。 态度客气，但答非所问；表示理解，却不提解决方案 人社部：整治虚假职业技能培训 人社部近日发布通知，要求规范培训机构办学，严禁以招生费等名义直接或变相买卖符合补贴条件的生源，以联合办学、培训合作等名义违规转包政府补贴的培训项目，与参训人员串通提供虚假信息 傅园慧称在长白山包车被勒索 当地交通部门：正按流程处理 中新网北京2月17日电(记者 刘星晨)17日，游泳世界冠军傅园慧通过社交平台发布求助帖称，她在吉林长白山包车出行时遭遇勒索，询问网友是否需要报警。 图片 新华社记者周义在福建省莆田市，“无忧电工”培训班的出现，为当地残障人士拓宽了就业渠道。“兼职电工，我的月收入平均增加1000多元。”通过培训获得电工证的第二批“无忧电工”梁志忠说话间难掩喜悦之情 新华社记者周楠、余春生、谢奔“路上快要结冰了，开车要注意安全。”2月21日中午，在省道S306茶垭段，寒风瑟瑟，湖南省桑植县竹叶坪乡政府工作人员李雅敏正和同事对过往车辆进行警示提醒。气象部门分析，受强 激活公共数据要素潜能 日前，国家数据局等部门发布《“数据要素×”三年行动计划(2024―2026年)》，进一步明确和细化了激活数据要素潜能的具体方式和实践场景，扩展数据要素的高质量供给。将通过多领域、多行业的试 。本文链接：China's trade-in policy energizes consumer markethttp://www.sushuapos.com/show-5-25901-0.html
声明：本网站为非营利性网站，本网页内容由互联网博主自发贡献，不代表本站观点，本站不承担任何法律责任。天上不会到馅饼，请大家谨防诈骗！若有侵权等问题请及时与本网联系，我们将在第一时间删除处理。
上一篇： Tianmenshan hosts global parkour race
下一篇： African friends say that China and Africa are good brothers