China: Trade-In Program Unlikely To Revive Consumption in 2025

China’s consumer goods trade-in programs for 2024 saw sales of home appliances, electric bicycles, automobiles and other related goods hit 1.3 trillion yuan ($179 billion) in 2024, sales which raised China’s overall annual retail sales growth by 1 percentage point to 3.5% in 2024, according to China’s Vice Commerce Minister Sheng Qiuping on Jan. 24. ...