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MOC: CN Backs Participation of Different Brands & Models of Handsets & Other Products in Trade-in Subsidy
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The relevant person in charge of the Ministry of Commerce (MOC) said at the State Council's regular policy briefing that the implementation of new subsidies for the purchases of smartphones and other products adheres to the principle of convenience, fairness and security, and will minimize the number of steps for consumers to take while ensuring the safety of their funds. The subsidy will be provided to eligible products of different brands and models, and will be available to both domestic and foreign-invested enterprises, state-owned and private enterprises, large enterprises and small and medium-sized enterprises, and online platforms and offline physical enterprises, the person added. Li Gang, Director General of the Department of Market Operation and Consumption Promotion of the Ministry of Commerce, said at the meeting that more than 2.9 million vehicles were scrapped and replaced in 2024, and more than 3.7 million vehicles replaced, resulting in automobile sales of more than RMB920 billion; more than 36 million consumers purchased more than 56 million units of eight major types of household electrical appliances, leading to sales of more than RMB240 billion; the “New Look” campaign for home decoration and kitchen and sanitary appliances prompted sales of nearly 60 million pieces of related products, with sales amounting to approximately RMB120 billion; and over 1.38 million electric bicycles were traded in, driving sales of new vehicles amounting to more than RMB3.7 billion. AAStocks Financial News |
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