bbc.com

China Expands Trade-In Schemes to Boost Economy Amidst Challenges

Facing economic struggles, China is expanding its consumer trade-in schemes to include kitchen appliances, aiming to stimulate demand. With 81 billion yuan allocated for this year, the government hopes to encourage spending on major items like microwaves and dishwashers. While officials report positive effects, economists express skepticism about the overall impact on consumer consumption. The move comes alongside heightened concerns regarding tariffs from President-elect Donald Trump on Chinese goods, as China prepares to release its 2024 economic growth forecast.

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