As the Chinese government tries to increase its sluggish economy, the country has expanded a list of items that people you trade in to receive a discount of up to 20 % on new items.
The list today includes things like microwave ovens, washers, rice stoves and water filters.
State-backed trade-in methods now covered screens, devices, pills and intelligent watches as well as electric and hybrid vehicles.
The second-largest economy in the world has been dealing with a number of difficulties, including a more severe property crisis and fragile consumer demand.
On Wednesday, officials said 81 billion yuan ( £8.9bn,$ 11bn ) had been earmarked this year for the consumer goods trade-in scheme.
China’s top financial planning system has said the plans, which were launched in March, have now produced “visible results”.
The laws, according to the nation’s Ministry of Commerce, have increased sales of expensive goods like cars and household appliances.
Some academics have questioned whether the measures will drastically improve customer usage, though.
” The technique has had mixed success thus way”, said Harry Murphy Cruise, head of China economy at Moody’s Analytics.
” While it has supported income of some listed items, such as trucks and equipment, it hasn’t driven an overall rise in spending”.
China has been implementing more policies to help its domestic market in recent months as producers face growing problems.
In December, a crucial meeting of China’s officials stressed the need for “vigorous” efforts to boost customer spending.
That came as President-elect Donald Trump, who is due to return to the White House this month, threatened to impose a 60 % tax on Chinese-made items.
China will release its 2024 financial growth figures the following year, which Beijing has stated it expects to be around 5 %.