MNI BRIEF: Beijing Boosts Consumer Trade-ins To Cellphones
MNI (BEIJING) - China will expand the scope of its consumer trade-in scheme from whitegoods to electronic devices, subsidising the purchase of mobile phones, tablets, and smart watches, CCTV News reported citing an official from the National Development and Reform Commission.
For enterprises, the equipment upgrade scheme will expand to cover areas such as electronic information, safe production and modern agriculture, as authorities will increase the subsidy standards for the renewal of new energy city buses and batteries as well as agricultural machinery, the NDRC said.
Advisors told MNI previously that special treasuries directed to the consumer trade-in scheme should increase by CNY100 billion to CNY250 billion in 2025 due to its success boosting whitegoods sales, while its scope should also expand to include electronic devices, such as smartphones. (See MNI: Special Treasuries To Boost China's Consumers In 2025)