China’s National Development and Reform Commission (NDRC) and the Ministry of Finance (MOF) further clarified that individual consumers will be given a 15% subsidy for the purchase of three types of digital products, namely smartphones, tablets and smartwatch bracelets, Chinese media reported. Apple (AAPL.US)      , Huawei, XIAOMI-W (01810.HK)  -0.250 (-0.715%)    Short selling $1.55B; Ratio 26.760%   , vivo, Honor, OPPO, Samsung, iQOO, Lenovo, Garmin and amazfit are preparing to go online on Tmall for the subsidy.

Persons in charge of a number of consumer electronics manufacturers and e-commerce platforms said the companies will partake in the subsidy program to galvanize the recovery of the consumption market, which is expected to promote the early start of the Spring Festival market in 2025 after the details are nailed.

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According to Honor, the company will be able to take full advantage of the large-scale consumption market, and it will be able to lead effective demand with high-quality supply through the national policy subsidies, and sustain the recovery of China's smartphone market, which will prompt a fresh round of market growth.

Pinduoduo recently launched a “government subsidy” zone with tens of billions of subsidies. Users can enjoy up to 20% government subsidy per order when they buy home appliances in the zone. Tmall also launched a government subsidy forum to take over the subsidy distribution work in various provinces and cities, and Taobao App also launched a new “government subsidy” easy application.
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