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CN MOC: 20M+ Consumers Apply for Subsidies to Purchase New Digital Products
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After the introduction of the “trade-in” policy for home appliances and subsidy measures for digital products by the Chinese government on 20 January, more than 20.09 million consumers had applied for subsidies on the purchase of more than 25 million units of digital products, such as smartphones, as of last Saturday (8th), according to the data platform of the Ministry of Commerce (MOC) of China. Monitoring data from China UnionPay also suggested that more than 6,000 merchants across China participated in the smartphone subsidy program through UnionPay, generating more than 6.26 million subsidy transactions with a sales amount of about RMB20.58 billion. The MOC said that the next step will be to urge localities to further optimize the application process, expand the number of participants, and strengthen risk prevention to ensure the stable and smooth implementation of the new subsidy policy for digital products such as smartphones. AAStocks Financial News |
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