Trade-in Programme Boosts Chinese Consumer Spending; Opens Trillion-Yuan Market

China: China's economic planning agency, the National Development and Reform Commission (NDRC), recently met with private companies to discuss trade-in programs for large equipment and consumer goods. This initiative aligns with the government's broader efforts to boost consumer spending and encourage upgrades to household products.

Early signs suggest these efforts are yielding positive results. Data from e-commerce platforms shows a surge in consumer spending since the launch of a stimulus plan in March 2024.

Source: Global Times