NDRC
-
Don’t Believe the Hype: National Subsidies for Trade-Ins Continue with $19 Billion in the Pipeline
China is boosting its consumer market with a new round of subsidies to encourage the replacement of old goods. ¥138 billion (approximately $19 billion USD) in central government funds will be released in Q3 and Q4, following the distribution of ¥162 billion in the first half of the year. The program is part of a larger initiative with a total of ¥300 billion allocated and currently about 50% utilized, covering appliances, electronics, and vehicles. Local governments are also expected to contribute.
