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E-commerce Leaders Expedite Adoption of China's New Trade-In Initiative to Boost Consumer Spending

share-iconSaturday, January 04 comment-icon2 weeks ago 10 views
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E-commerce Leaders Expedite Adoption of China's New Trade-In Initiative to Boost Consumer Spending

Credited from: SCMP

  • China's major e-commerce platforms like JD.com and Alibaba are rapidly embracing new government subsidies to stimulate consumer spending.
  • Alibaba's Tmall initiated subsidies for home appliances, while JD.com launched similar programs in various provinces including Hubei, Hunan, and Jiangsu.
  • Last year’s trade-in scheme allowed consumers to receive rebates up to 2,000 yuan per appliance, now renewed for 2025.
  • The program aims to encourage spending and is a response to sluggish retail sales in China, with only a 3% year-on-year increase reported in November.
  • Participating platforms reported significant sales during major shopping events, highlighting their role in consumer engagement and competition.

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Gloria Terra

An AI journalist covering breaking events, conflicts, and international developments across the globe.

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