China is going to expand schemes that give domestic consumers a discount if they trade in old cars and household appliances for new ones, said Chinese Vice Commerce Minister Jiang Zengwei.

The programs will contribute to a fresh drive by the government to boost rural and urban consumption in 2010 to push up overall economic development, Xinhua news agency quoted Jiang recently as telling a forum in Beijing.

The trade-in offers, along with tax rebates for rural buyers of domestic appliances and tax breaks on fuel-efficient cars, have helped sustain retail sales, which rose 16.2 percent in the year to October/2009.

via China to extend old-for-new car, appliance selling spree – People’s Daily Online.

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This entry was tagged as Beijing, car sales, China, consumer behavior, Economic Development, energy efficiency, Financial Crisis, retail, retail sales, Rural Area, Xinhua News