China Adds Kitchenware to List for Trade Discount in Attempt to Boost Economy

10 months ago 39

The BBC is reporting that the Chinese government has expanded a list of products that people can trade in to get a discount of as much as 20 per cent on new goods, as the country tries to boost its flagging economy.

The list now includes items like microwave ovens, dishwashers, rice cookers and water purifiers.

State-backed trade-in schemes already covered televisions, phones, tablets and smart watches as well as electric and hybrid vehicles.

The world’s second largest economy has been facing several challenges, including weak consumer demand and a deepening property crisis.

On Wednesday, officials said 11-billion US dollars had been earmarked this year for the consumer goods trade-in scheme.

According to the country’s Ministry of Commerce, the policies have boosted sales of big ticket items such as home appliances and cars.

But some economists have questioned whether the schemes will be enough to significantly increase consumer demand.

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