E-commerce Leaders Embrace China's Trade-In Program to Boost Sales

Economy

1 year ago

News sources:

Credited from: SCMP

China's leading e-commerce companies, including JD.com and Alibaba Group, are quickly adopting new government subsidies aimed at increasing consumer spending.
On Wednesday, Tmall initiated subsidies for home appliance purchases, while JD.com launched a similar promotion in specific provinces.
The trade-in program, introduced last year, offers up to 2,000 yuan (US$274) rebates for eligible home appliances.
The renewed initiative for 2025 will allow past subsidy recipients to qualify for new rebates and expand eligible products.
This effort is part of Beijing's strategy to stimulate economic growth, which has been slow due to reduced consumer spending and declining property investments.

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