Consumption

Beijing is allocating 69 billion yuan in special treasury bonds, the third batch dedicated to stimulating domestic consumption through trade-ins of consumer goods. A final tranche of 69 billion yuan is planned for October. The NDRC, along with the Ministry of Finance and Commerce, will oversee local governments to ensure matching funds and prevent price hikes or subsidy fraud. This initiative, building on a January program, offers subsidies for electronics upgrades, such as 15% discounts (up to 500 yuan) on smartphones, tablets, and smartwatches priced under 6,000 yuan.

Lychee prices have plummeted by 70% due to increased production and lower transportation costs, creating a supply glut. Wholesale prices for varieties like *Fei Zi Xiao* are around $0.70-$0.77 per pound. Despite lychees’ traditional health benefits and nutritional value according to Traditional Chinese Medicine, overconsumption is discouraged. Moderation is especially advised for those with specific health concerns.