China’s consumer goods trade-in policy continues to invigorate the market in 2025, fostering a surge in consumer activity across the nation.
In Taiyuan City, the capital of Shanxi Province, consumers are reaping the benefits of generous government subsidies. Those purchasing cars, home appliances, or electric bicycles can enjoy trade-in subsidies of around 20 percent, a significant saving that is encouraging more spending.
Building upon the national trade-in subsidies, the Shanxi provincial government provides additional financial incentives, further stimulating consumer enthusiasm. This dual support system has led to a noticeable increase in activity within many stores throughout the region.
Retailers in Taiyuan are witnessing a surge in sales as consumers take advantage of these substantial discounts. The policy not only boosts consumer confidence but also contributes to economic growth by increasing domestic consumption.
The continuation of the ‘trade-in for new’ policy underscores China’s commitment to strengthening its domestic market. By incentivizing the replacement of old goods with new purchases, the policy promotes sustainable consumption and supports manufacturers.
As China’s economy continues to develop, such policies play a crucial role in enhancing consumer vitality and driving economic prosperity. The success observed in Taiyuan City may serve as a model for other regions aiming to invigorate their local economies.
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China's 'trade-in for new' policy continues to boost consumer vitality
cgtn.com
