Translation. Region: Russian Federal
Source: People’s Republic of China in Russian – People’s Republic of China in Russian –
Source: People’s Republic of China – State Council News
BEIJING, June 20 (Xinhua) — China has reaffirmed its support for a national program to upgrade equipment and replace consumer goods with new ones through the trade-in scheme and pledged to provide continuous funding to pay government subsidies through 2025.
The programme, a key part of the country’s broader strategy to boost domestic consumption, encourages consumers to replace old goods such as appliances and vehicles with new ones.
The central government has allocated 300 billion yuan ($41.84 billion) in government bonds to support local governments in implementing the program in 2025, double the amount from a year earlier. Part of the central government’s funding, totaling 162 billion yuan, has already been disbursed in January and April, with more planned for July and October.
“At present, about half of the annual subsidy volume has been spent, which is quite in line with expectations,” a representative of the National Development and Reform Commission of China summed up. -0-