日韩精品久久一区二区三区_亚洲色图p_亚洲综合在线最大成人_国产中出在线观看_日韩免费_亚洲综合在线一区

Global EditionASIA 中文雙語Fran?ais
Business
Home / Business / Policies

Breakthroughs and prospects of trade-in deals for consumer goods

By Shen Jianguang | China Daily | Updated: 2024-11-04 09:28
Share
Share - WeChat
File photo shows the Lujiazui area in East China's Shanghai. [Photo/Xinhua]

China has issued 300 billion yuan ($42 billion) in treasury bonds as a stimulus package to support large-scale equipment upgrades and trade-in deals for consumer goods. It is recommended that the government further strengthen coordination between fiscal subsidies and financial services, and continuously expand the scope of trade-in products.

The country has encouraged trade-in deals for consumer products, including automobiles, household appliances and home furnishings, to boost consumption and thereby economic growth, as per the guideline released by the State Council, the country's Cabinet, in March.

Multiple regions have introduced policies and measures such as auto replacements and home appliance trade-in deals, and positive results have been achieved in improving consumption growth in some areas and product categories.

In the first half, the contribution rate of final consumption to economic growth reached 60 percent, said the National Bureau of Statistics. Yet, compared to services consumption, the recent downward trend in goods consumption has been more pronounced.

From January to June, the consumption of grains, edible oils, tobacco, alcohol and communication equipment maintained accelerated growth, while spending on home appliances, furniture, building decor and automobiles showed relatively sluggish performance.

The importance of activating consumption of some key categories of products has become increasingly demonstrated. Based on industry statistics, the annual domestic sales scale of home appliances has been around 850 billion yuan in the past decade, showing no significant growth over the period.

It has become increasingly important to drive a comprehensive consumption recovery by activating spending on upgrading consumer products. Currently, the number of household appliances owned by Chinese families has exceeded 3 billion units.

During the period from 2009 to 2012, the government issued subsidies to promote sales of home appliances in the countryside. A decade later, these products have entered a peak period of replacement.

If calculated based on an annual replacement rate of 10 percent, the potential sales of the market sector could exceed 500 billion yuan. In such a context, the importance of fiscal support to encourage consumers to trade in old products for new ones has become more prominent.

First, it is recommended that the government develop standardized plans for the implementation of trade-in policies and clear up uncertainties.

Previously, there were some unclear verification standards for the uploading of data for trade-in deals and for invoice issuances, thus requiring participating companies to pay advance money first. Such a phenomenon has reduced the participatory interest of both businesses and consumers.

Good practices and policy implementation in various regions should be summarized to help formulate guidelines for the implementation of the trade-in policy at the national level.

Possible areas of improvement include clarifying requirements for accounting and invoice issuance practices, unifying standards for government subsidies, and determining the proportion and upper limit of advance payments by enterprises and e-commerce platforms.

This would help ensure the implementation of the policy as a whole, raise consumer interest in participating in trade-in deals, and maximize the overall effect of the policy.

Second, the government may further improve the coordination mechanism between fiscal subsidies and financial services, and expand the effectiveness of the policy.

It is suggested that the People's Bank of China, the country's central bank, establish a consumer goods trade-in refinancing program. Or, the PBOC could expand the coverage of technological innovation refinancing programs to support commercial banks to provide loans for the trade-in of smart and green consumer goods.

In addition, it is recommended that the government provide subsidies for financial institutions' loans related to trade-in deals, and thus share the risk pressures of financial institutions.

In addition, platforms and enterprises are encouraged to carry out credit sales based on the consumption scenarios of trade-in deals.

Third, the government should continuously expand the scope of trade-in products and promote effective connections between trade-in deals and the development of new quality productive forces.

Market research shows that consumers are most willing to conduct trade-ins for large-scale household appliances such as air conditioners, refrigerators, washing machines and televisions. The category is followed by electronic devices such as mobile phones, tablets and computers.

When replacing old products, green energy-saving products and smart trendy products have proven the most popular.

It is recommended that different regions across the nation gradually expand coverage of products for trade-in deals based on upgrading demands among consumers.

The scope of products could expand from household appliances, home furnishings, automobiles and electric bicycles to high value-added and fast-updating categories such as computers and mobile phones, especially high-end, intelligent and green consumer products.

The trade-in of consumer goods, together with large-scale equipment upgrades, are encouraged to become important levers to develop new-quality productive forces in the country, and thus effectively stabilize supply and demand cycles.

The writer is vice-president and chief economist at Chinese e-commerce firm JD.

The views do not necessarily reflect those of China Daily.

Top
BACK TO THE TOP
English
Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349
FOLLOW US
CLOSE
 
主站蜘蛛池模板: www.com黄| 中文字幕在线观看视频一区 | 91在线视频免费观看 | www.国产高清 | 色噜噜狠狠狠狠色综合久不 | 99热在线播放| 久9久9精品视频在线观看 | 天天干狠狠干 | 一级欧美一级日韩 | 精品久久久久久久人人人人传媒 | 奇米影| 中文字幕精品一区 | 一本一道久久a久久精品蜜桃 | 亚洲毛片 | 一色屋任你操 | www.75zzz.com| 五月天中文在线 | 成人av一区 | 亚洲欧美视频一区二区 | av官网在线 | 久久天堂 | 色综合久久中文字幕网 | 国产一区网址 | 欧美a级在线观看 | 日韩a| 黄色综合| 亚洲精品一区二区三区福利 | 四虎最新免费网址 | 久久一日本道色综合久久m 亚洲三级视频 | 午夜你懂得| 亚洲一区二区三区首页 | 青娱乐中文字幕 | 一区二区三区国模大胆 | 亚洲精品中文字幕乱码一区二区 | 国产精品岛国久久久久久 | 国产中文av在线 | 小蝌蚪污视频 | 谍影在线观看电视剧完整版 | 天天伊人网 | 男女免费视频网站 | 午夜影视在线观看免费完整高清大全 |