China added microwaves to home appliances that now quality for state subsidies in a trade-in program to spur consumption.Servais Mont/Getty ImagesChina has expanded its trade-in program to boost consumer spending on home appliances.The program, launched in March, includes subsidies and has shown positive results.China faces economic challenges including deflation fears and low consumer demand.China's cautious consumers are spending less, prompting Beijing to dish out incentives even for small home goods.On Wednesday, China added home appliances, including microwave ovens, water purifiers, dishwashers, and rice cookers, in a trade-in program designed to spur demand.The program, which was first rolled out in March, already included bigger appliances like refrigerators, washing machines, TV sets, and air conditioners.
Beijing Is Subsidizing Everything From Microwaves To Dishwashers To Get People To Spend More Money
htan@insider.com (Huileng Tan), Business Insider
Thu, 01/09/2025 - 12:12am
Topics: servais mont/getty imageschina beijing li gang china's cpi november cpi lynn song greater china ing chinese new year january 29.however nomura business insider china march chinese december china's microwaves dishwashers spend program home deflation inflation trade-in prices appliances consumer billion data yuan price month wednesday edged straight boost food positive spur subsidies sales consumption wrote worth government added official non-food challenges
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