China allocates 69 bln yuan for consumer goods trade-in program
Wire desk byline Sourced from Xinhua, Dawn, Arab News, Anadolu and Minute Mirror. Translated and abridged by the GSRRA Desk.
China has allocated 69 billion yuan (about 9.66 billion U.S. dollars) in its third batch of ultra-long special treasury bond funds to support the country’s consumer goods trade-in program, the Ministry of Finance (MOF) said on Friday.
The MOF, together with the National Development and Reform Commission (NDRC), has this year earmarked 300 billion yuan in such funds to back the program, MOF official Wu Gai told a press conference.
The first two batches of these funds — totaling 162 billion yuan — were allocated in January and April this year, according to Wu. The remaining funds will be disbursed in October to support local authorities in advancing the trade-in program, he added.
As of July 16, a total of 280 million people across the country have applied for subsidies under the consumer goods trade-in program, driving sales of related commodities to exceed 1.6 trillion yuan, data from the NDRC shows.
In its next step, the NDRC said it will optimize subsidy distribution methods, ensure more orderly policy implementation, and strengthen supervision over product quality and pricing.
Reference Link:- https://english.news.cn/20250725/7158af4549e44b5ba79a6fa240472e91/c.html
Zamir Ahmed Awan is the founder and Chair of the Global Silk Route Research Alliance, a think tank in Islamabad. He studied engineering at Shanghai University in the 1980s, and years later he went back to China as Pakistan's science counsellor in Beijing, from 2010 until 2016, working on science and higher education cooperation between the two countries.…
