Vice Commerce Minister Jiang Zengwei has said China will expand schemes that give consumers a discount if they trade in old cars and household appliances for new ones.He told a forum in Beijing that the programs will contribute to a fresh drive by the government to boost rural and urban consumption next year to push up overall economic growth.
Washington Post reported that 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% in the year to October 6.
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