MNI BRIEF: China Working On Trade-in Scheme Expansion - MOFCOM
MNI (BEIJING) - China’s Ministry of Commerce is working with other departments across government to expand the trade-in scheme for consumer goods, He Yongqian, spokesperson for the Ministry of Commerce, said on Thursday.
Speaking to reporters, He said the Ministry would speed up issuing policy documents relating to consumption in ice and snow, silver, digital, green, and health sectors. Authorities expect the consumer market to show steady growth next year, He noted.
China will increase government debt issuance by 20-50% in 2025 in order to keep GDP growth at around 5% at a time when officials are shifting their emphasis to prioritising consumption rather than investment and as trade relations with the U.S. look likely to deteriorate, policy advisors and economists recently told MNI. (See MNI: China To Issue More Bonds As Stimulus Targets Consumption)