【matka tips today】China steps up trade
Automobiles are displayed at the World Intelligence Expo 2024 in north China's Tianjin,matka tips today 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 The initiative, covering automobiles, home appliances and decors, aims to encourage the replacement of outdated goods with newer and more advanced options.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
- 随机阅读
-
- Infographic: Highlights of white paper China’s Energy Transition
- 意大利公开赛罗兹勒62杆 与西姆等并列领先第三轮
- 迪马利亚第143次代表阿根廷出战 超越萨内蒂排队史第3
- 国足面对三强真的拿不了分?日本不敢轻视对手
- Shanghai's Olympic athletes feted at Disney Resort(1)
- [新浪彩票]足彩第24101期大势:法国提防冷平
- 9人新鹏城送津门虎主场首胜 安德拉德或被追罚
- 美洲杯小组赛3场比赛全部进球 劳塔罗成历史第3人
- Ancient Great Wall amidst sea of clouds
- 国足小组对手印尼:有望全归化首发 身价亚洲一流
- 英格兰10人连续4场先发,仅梅努位置变先发
- 超越小猪!诺伊尔成为德国队史欧洲杯出场王
- China steps up trade
- 足彩伤停:奥地利前锋维默尔停赛 维京2人伤缺
- 国足小组对手印尼:有望全归化首发 身价亚洲一流
- 本届欧洲杯过人次数排名 多库13次过人独居榜首
- 如何诗意地成长在智能时代
- 精选足篮专家:真人侃球14连红 数据大师连红12场
- 迪马利亚第143次代表阿根廷出战 超越萨内蒂排队史第3
- 法国队淘汰赛首发预测:姆巴佩图拉姆搭档双前锋
- 搜索
-