China Expands Home Appliance Trade-In Program

China is broadening its home appliance trade-in program, expanding to 12 categories from last year’s eight. Consumers will receive a 20% subsidy on new appliances. The program also supports the purchase of residential furnishings and electric bicycle trade-ins, with items like microwave ovens and rice cookers included.

China is set to expand its home appliance trade-in initiative, increasing its coverage to 12 categories compared to last year's eight. This move, announced by Zhao Chenxin, vice head of the National Development and Reform Commission (NDRC), means consumers purchasing new home appliances will enjoy a subsidy equivalent to 20% of the sales price.

The country's state planner revealed the expanded list includes microwave ovens, water purifiers, dish-washing machines, and rice cookers. The initiative also extends support to the purchase of residential furnishings and the trade-in of electric bicycles.

This policy is part of a document issued jointly by the NDRC and finance ministry, aiming to stimulate consumer spending and boost sustainable shopping habits among Chinese households.

(With inputs from agencies.)