China enacts trade-in policy across industries to stimulate demand and boost product quality.

China introduced a trade-in policy across sectors like automobiles, home appliances, and real estate to boost consumer spending and upgrade products. The policy has resulted in over 3.5 million vehicles being scrapped and recycled, with 40% of Suning's consumers opting for new home appliances through trade-in programs and over 100 cities encouraging homeowners to swap old properties for new ones. The initiative aims to improve product quality and stimulate demand, supporting economic recovery.

August 24, 2024
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