Trade-In Subsidy Program Broadens Eligible Products

Deep News
Jul 31

A provincial trade-in subsidy program has been expanded to include additional household appliances, aiming to boost consumer spending through 2026.

Recently, the provincial commerce, development, and finance departments jointly issued a notice clarifying that the list of subsidized products under the independent category will now include four new items: range hoods, gas stoves (including integrated stoves), water purifiers, and clothes dryers.

Consumers purchasing these four product types will receive a 15% subsidy on the final sales price after all discounts. Each person is eligible for one subsidy per product category, with a maximum subsidy of 1,500 yuan per item. These products must have a unified national standard barcode, and those with energy or water efficiency ratings must be at the top-tier level, such as Grade 1.

The television category eligible for trade-in subsidies has been adjusted to include "televisions (including laser televisions and projectors)."

In January of this year, the national government established a unified framework for trade-in subsidies across four areas: vehicle scrapping and replacement, vehicle trade-in replacement, six categories of home appliance trade-ins (refrigerators, washing machines, televisions, air conditioners, computers, and water heaters), and four categories of new digital and smart products (mobile phones, tablets, smartwatches/smart bands, and smart glasses). The policy also allows local governments to implement their own subsidy programs.

In June of this year, the province released a list of locally funded subsidy categories, including six consumer goods: smart cleaning robots, exoskeleton robots, smart toilets, smart door locks, dishwashers, and smart health monitoring and assistive products.

As of now, the province's independent trade-in subsidy categories have reached 10 in total, further amplifying the policy's benefits for citizens and its role in stimulating consumption.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Most Discussed

  1. 1
     
     
     
     
  2. 2
     
     
     
     
  3. 3
     
     
     
     
  4. 4
     
     
     
     
  5. 5
     
     
     
     
  6. 6
     
     
     
     
  7. 7
     
     
     
     
  8. 8
     
     
     
     
  9. 9
     
     
     
     
  10. 10