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CN MOC Studying with Relevant Parties on Formulation of Policies on Large-scale Equipment Renewal/ Consumer Goods Trade-in Next Yr
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Li Gang, director general of the Department of Market Operation and Consumption Promotion of China's Ministry of Commerce (MOC), said that the MOC is working with relevant parties to study and formulate policies on “large-scale equipment replacement and trade-in of consumer goods” for 2025, according to Chinese media. Driven by the “trade-in” policy, the hot sales of products like autos and home appliances contributed to the sustained rebound in consumption and expanding domestic demand, Li added. In terms of the effect on the consumption market, the YoY growth of retail sales of autos in November was 6.6%, which accelerated the growth rate of total retail sales of social goods by 0.5 ppts, and shifted the contribution to the growth rate of consumer goods sales from a drag to a lift. AAStocks Financial News |
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