【bangalore days ott】China steps up trade
Automobiles are displayed at the World Intelligence Expo 2024 in north China's Tianjin,bangalore days ott June 20, 2024. (Xinhua/Sun Fanyue) BEIJING, Sept. 4 (Xinhua) -- China is stepping up measures to encourage consumer goods trade-ins, in an effort to further unleash market demand and galvanize economic growth. On Tuesday, Shanghai unveiled a plan to promote consumer goods trade-ins, providing a 15-percent subsidy on the purchase of certain household appliances and home decors. Under the policy, local residents will be able to enjoy subsidies of no more than 2,000 yuan (about 281.1 U.S. dollars) while purchasing sofas, mattresses, and air purifiers, among others. Shanghai's policy epitomizes the ongoing drive to promote trade-in schemes across China. The initiative, covering automobiles, home appliances and decors, aims to encourage the replacement of outdated goods with newer and more advanced options. In Chongqing Municipality in southwest China, local authorities have updated trade-in policies for green and smart household appliances last week. On the first day when the new policy was implemented, a total of 8.17 million yuan worth of subsidies were dished out. A local resident surnamed Zhou was one of the beneficiaries. He received a subsidy of nearly 500 yuan while purchasing a 2,499-yuan Haier air conditioner. It was a very attractive deal with government subsidies, Zhou said, adding that the application process was fast and convenient. To boost car trade-ins, central China's Hubei Province has increased subsidies for automobiles, granting up to 16,000 yuan for the trade-ins of new energy vehicles (NEVs). In the economic powerhouse of Guangdong, policymakers have set the target of passenger car replacements and renewals at 143,000 units for the whole province, excluding Shenzhen City. These local policy measures came after China's State Council released an action plan in March to initiate large-scale equipment upgrades and trade-ins of consumer goods. China has underscored the importance of consumption in economic growth in multiple meetings. During a tone-setting meeting on economic work in December, the country listed the lack of effective demand as one of the difficulties and challenges faced by its economic recovery and urged efforts to expand domestic demand. Over the past few months, the action plan has been translated into concrete policy measures by relevant government departments and local governments, injecting fresh impetus into the consumer market and generating positive initial effects on the economy. Data showed that the sales of NEVs have already been on a steady rise. According to invoice data from the State Taxation Administration, the number of NEVs sold surged 34.8 percent year on year from April to July, up 7.3 percentage points compared with March. In particular, NEVs registered a growth of 38.5 percent year on year in sales volume in July, becoming a crucial force in stabilizing automotive consumption. "Domestically-manufactured NEVs boast advantages in prices and cost less to use. With trade-in and favorable tax policies, many car buyers are opting to replace their old petrol vehicles with NEVs," said Wan Meibo, an employee with a Hunan-based automobile sales company. Boosted by policy stimulus, revenues from retail sales of household appliances and audio-visual equipment also logged year-on-year increases during the April-July period, as indicated by value-added tax invoice data. The warming household appliance and furniture market has spurred sales of related manufacturing sectors. Intelligent consumer products, such as wearables and smart auto equipment, posted an increase in sales revenues during the April-July period. Against the backdrop of tepid global growth and insufficient domestic demand, the trade-in policies have benefited the public and stimulated consumption, experts said. China's retail sales of consumer goods rose 3.5 percent year on year in the first seven months of this year, with July posting a faster growth rate than that of June, official data showed. With intensified efforts to boost consumer goods trade-ins and the launch of various pro-consumption activities, China's consumer market will see an upward and positive trend in the future, according to the Ministry of Commerce.
- 最近发表
-
- Harris, Trump face off for 1st time in 2024 U.S. presidential debate
- 曼联引援瞄准德利赫特 已与球员团队开启谈判
- 8月升级媲美单反雅顾光影人像大师!荣耀Magic V3搭载鹰眼相机系统
- 国象甲联前两轮杭州银行1胜1平 宿将新秀轮番立功
- Exhibition displaying farmer paintings kicks off in Liuzhou, S China
- 大巴黎对什克表现不满 准备今夏将其出售
- 精选专家:黎先生预测排列三近6中5
- 8月升级媲美单反雅顾光影人像大师!荣耀Magic V3搭载鹰眼相机系统
- Local authorities accelerate development of solar power industry in Hami City, NW China
- 沙拉维首发出战淘汰赛 时隔8年再次在大赛中出场
- 随机阅读
-
- 韩国称朝鲜再次向韩放飞气球
- 足坛黄金一代告别!珍惜梅西C罗的最后一届世界杯
- 武磊19球强势领跑中超射手榜 且不包含点球
- 欧洲杯淘汰赛前瞻:超级死亡半区 英意暗流汹涌
- Bridge Fire in Southern California explodes over 10 times in size
- 普京载金正恩在平壤街头兜风
- 火箭信贷精英赛巴蒂亚64杆领先 福勒T4袁也淳T17
- 男子饭后散步顺手擒快乐8游戏320万大奖
- Teacher delivers hope to children in China's landlocked mountains
- 男子饭后散步顺手擒快乐8游戏320万大奖
- 沪媒:别急着看衰 机会依然有 国足签位有玄机
- 足彩头奖空开滚存873万 二等开8注46.8万
- Yuping Dong Autonomous County of SW China’s Guizhou: a train passing through early autumn
- 扎哈罗娃:俄方要求美国从欧洲撤出全部核武器
- 18强赛分组出炉 伊万:不想当过客 乐观参加 全力以赴
- 抽到哪组都是下下签!国足最高目标:小组别垫底
- 中非合作论坛北京峰会开幕
- 韩国联合参谋本部:朝鲜向半岛东部海域发射导弹
- 中泰组合殷若宁/阿塔雅64杆 并列领先陶氏邀请赛
- 国象甲联常规赛破天津迎连胜 山外国象气势如虹
- 搜索
-