Reported 3 days ago
In an effort to stimulate domestic spending amidst challenging external conditions, China will extend its consumption subsidy program to include smartphones and other personal electronics. The initiative aims to reinvigorate the sluggish smartphone market, as consumers are holding onto devices longer, and it is part of a broader strategy to bolster domestic demand in response to potential new US tariffs. The government plans to fund these subsidies through ultra-long special treasury bonds, reflecting a renewed focus on encouraging consumption as a priority for 2025.
Source: YAHOO