{"id":211210,"date":"2025-01-09T04:58:09","date_gmt":"2025-01-09T04:58:09","guid":{"rendered":"https:\/\/news.talkwithrattan.com\/index.php\/2025\/01\/09\/china-beijing-bets-on-rice-cookers-and-microwaves-to-boost-economy\/"},"modified":"2025-01-09T04:58:09","modified_gmt":"2025-01-09T04:58:09","slug":"china-beijing-bets-on-rice-cookers-and-microwaves-to-boost-economy","status":"publish","type":"post","link":"https:\/\/news.talkwithrattan.com\/index.php\/2025\/01\/09\/china-beijing-bets-on-rice-cookers-and-microwaves-to-boost-economy\/","title":{"rendered":"China: Beijing bets on rice cookers and microwaves to boost economy"},"content":{"rendered":"
\"China:<\/div>


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The Chinese government has expanded a list of products that people can trade in to get a discount of as much as 20% on new goods as the country tries to boost its flagging economy.<\/p>\n

The list now includes items like microwave ovens, dishwashers, rice cookers and water purifiers.<\/p>\n

State-backed trade-in schemes already covered televisions, phones, tablets and smart watches as well as electric and hybrid vehicles.<\/p>\n

The world’s second largest economy has been facing several challenges, including weak consumer demand and a deepening property crisis.<\/p>\n<\/div>\n

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On Wednesday, officials said 81 billion yuan (\u00a38.9bn; $11bn) had been earmarked this year for the consumer goods trade-in scheme.<\/p>\n

China’s top economic planning body has said the schemes, which were launched in March, have already produced “visible effects”.<\/p>\n

According to the country’s Ministry of Commerce, the policies have boosted sales of big ticket items such as home appliances and cars.<\/p>\n

But some economists have questioned whether the schemes will be enough to significantly increase consumer consumption.<\/p>\n

“The approach has had mixed success so far,” said Harry Murphy Cruise, head of China economics at Moody’s Analytics.<\/p>\n

“While it has supported sales of some listed goods, such as cars and appliances, it hasn’t driven an overall uptick in spending.”<\/p>\n

In recent months, China has been pushing ahead with more measures to support its domestic economy as the country’s exporters face growing challenges.<\/p>\n

In December, a key meeting of China’s leaders stressed the need for “vigorous” efforts to boost consumer spending.<\/p>\n

That came as President-elect Donald Trump, who is due to return to the White House this month, threatened to impose a 60% tariff on Chinese-made products.<\/p>\n

China is due to announce its 2024 economic growth figures next week, which Beijing has said it expects will be around 5%.<\/p>\n<\/div>\n


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The Chinese government has expanded a list of products that people can trade in to get a discount of as much as 20% on new goods as the country tries to boost its flagging economy. The list now includes items like microwave ovens, dishwashers, rice cookers and water purifiers. State-backed trade-in schemes already covered televisions, […]<\/p>\n","protected":false},"author":2,"featured_media":211211,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"tdm_status":"","tdm_grid_status":"","fifu_image_url":"https:\/\/ichef.bbci.co.uk\/news\/1024\/branded_news\/83b7\/live\/4d7e7030-ce42-11ef-9224-f724d9d37485.jpg","fifu_image_alt":"","footnotes":""},"categories":[604],"tags":[1226,5091,1919,168,166696,1933,166697,29687],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts\/211210"}],"collection":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/comments?post=211210"}],"version-history":[{"count":1,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts\/211210\/revisions"}],"predecessor-version":[{"id":211212,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts\/211210\/revisions\/211212"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/media\/211211"}],"wp:attachment":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/media?parent=211210"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/categories?post=211210"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/tags?post=211210"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}