【street shopping in bangalore】China steps up trade
Automobiles are displayed at the World Intelligence Expo 2024 in north China's Tianjin,street shopping in bangalore 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 The initiative, covering automobiles, home appliances and decors, aims to encourage the replacement of outdated goods with newer and more advanced options.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
-
- Pakistani PM kicks off nationwide special anti
- China outlines key tasks for ecological conservation
- 菲船只在我仙宾礁附近海域聚集 中国海警全程依法跟监、有效管控
- Transcultural exhibition attracts visitors of various cultural backgrounds
- 如何诗意地成长在智能时代
- Scenery of Mount Sannine, Lebanon
- 劈山开河 通江达海 平陆运河:一江春水向“南”流
- “和平方舟”的巡诊日记
- 北京香山论坛:已有90余个国家和国际组织确认参会
- Mangoes enter harvest season in Egypt
- 随机阅读
-
- Original Lobster Festival held in U.S.
- Turkish students experience Chinese culture in Türkiye
- Quan Hongchan, Chen Yuxi take part in interview with Xinhua
- Golden field with harvest in sight in C China’s Hunan
- Scenery of Gahai Lake wetland in NW China's Gansu
- Surge seen in vacationers with scientific bent(1)
- Nadam fair kicks off in N China's Inner Mongolia
- 中美青少年续写“乒乓友谊”(环球热点)
- 40 killed in Israeli attack on Gaza
- People flee from Hamad City following Israel's evacuation order
- Scenery of ruins of ancient city of Hierapolis in Denizli, Türkiye
- Surge seen in vacationers with scientific bent(1)
- 沙特王储发声:必须动员一切力量制止以色列对巴侵犯
- 我的同龄人和农牧民成了一家人
- Ancient Tunpu villages attract tourists in Guizhou
- 高价名表5秒被调包 警方揪出惯犯涉案金额超60万元
- Infographic: Highlights of white paper China’s Energy Transition
- 劈山开河 通江达海 平陆运河:一江春水向“南”流
- Across China: Amateur musicians revive Zhuang ethnic instrument with pop music
- Hukou Waterfall on Yellow River amazes tourists(1)
- 搜索
-
- 友情链接
-
- 上半年各种自然灾害共造成全国3238.1万人次受灾
- Xi's article on maintaining self
- 中国市场将为几内亚比绍带来巨大机遇——访几内亚比绍进出口协会主席贾曼卡
- “中国游”持续走热 吸引力如何持续?
- Homestay service burgeons at Dazhai Village in S China
- China's economy keeps steady recovery, to gain steam from new reforms
- Xinhua Headlines: Historical archives bear witness to China's exercise of sovereignty over Xizang
- Xi's article on maintaining self
- 夏粮丰收、贸易规模再创新高!我国经济向好势头进一步巩固
- China Focus: China's diversified educational system empowering dreams of millions