China launched a 300 billion yuan equipment upgrade and trade-in program in March 2024 to boost domestic demand and stimulate the economy.

China has advanced its large-scale equipment upgrade and consumer goods trade-in program this year, launched in March 2024 to enhance domestic demand and stimulate the economy. A 300 billion yuan ($42.53 billion) investment was made in July. In the first eight months of 2024, equipment investment rose by 16.8%, and retail sales of passenger and new energy vehicles increased significantly. The program aims to support economic sustainability and transition towards greener technologies.

September 23, 2024
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