China’s top economic planning body said on Thursday that it will release a new batch of funds in July to support the country’s trade-in program for consumer goods, marking the third time this year that the country’s authorities have looked to boost consumer spending with such measures. Li Chao, spokesperson for the National Development and Reform Commission, said the rollout will follow the existing plan, following recent concerns after some local-level subsidies were paused. The government will also coordinate with relevant departments to ensure a more balanced and timely disbursement of funds throughout the year, Li said at the agency’s June press briefing. Authorities are aiming to implement detailed subsidy plans by sector, even down to monthly and weekly timelines, to maintain the orderly execution of the policy, according to official statements on the scheme. The trade-in initiative is part of China’s broader push to boost domestic consumption by encouraging households to replace old appliances, cars, and electronics with newer, more energy-efficient models. The program has been viewed as a key measure to support economic recovery. [Xinhua News, in Chinese]
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