China-Serbia relations witnessed milestones in 2024, with the two sides deciding to build a community with a shared future in the new era, upgrading relations from the comprehensive strategic partnership.
One example of successful collaboration between China and Serbia is a railroad from Belgrade to the north of the country, to the border with Hungary.
The railroad, mostly built by Chinese companies, has been operating for over a year, facilitating thousands of trains and millions of passengers.
Currently the trains only operate up to Novi Sad, Serbia's second-largest city, but very soon they will travel to the Hungarian border - and in a couple of years to Budapest as well.
The visit of Chinese President Xi Jinping in May 2024 to Belgrade was another example of the ironclad friendship between the two countries.
Over 30 agreements were signed during Xi's second visit to Serbia in the past eight years. It laid the foundation for new milestones.
"2024 marks a year when we have started implementing a free trade agreement between our two countries. In 2024, China has become No. 1 foreign investor in Serbia. Chinese companies continue to participate and play a major role in our economic modernization. They play a significant role in our infrastructural projects, transport projects, energy projects," said Nikola Stojanovic, State Secretary of Serbian Ministry of Foreign Affairs.
It is not just economy that connects the two countries. They work hand in hand on many international political issues too, with those surrounding Taiwan, Kosovo and Metohija are on the top of the list.
"I believe that the year of 2024 will be recorded in history of China-Serbia relations. China and Serbia have established a community for shared future. Serbia has become the first country in Europe that has established such high-level relations with China," said Li Ming, Chinese Ambassador to Serbia.
Measures have also been introduced to boost tourism. Several more direct flights between Serbia and China were launched, including flights to Belgrade from Tianjin, Beijing, Shanghai, and Guangzhou.
China-Serbia relations achieve milestones in 2024
A new round of trade-in subsidy program is energizing China's consumer market these days, with provinces across the country seeing a surge in demand for cars, home appliances and digital devices.
In north China's Shanxi Province, the new trade-in subsidy program, which started on January 9, has further helped boost sales in home appliances and digital devices which are covered by the new round of subsidies.
To enjoy the subsidies, six types of home appliances, including refrigerators and washing machines, must meet national Level 1 energy-efficiency or water-efficiency standards. Digital and smart products include four types, such as mobile phones and tablets, with a sales price cap of 6,000 yuan (about 800 U.S. dollars) per item.
In both categories, subsidies are set at 15 percent of the final transaction price. For home appliances, the maximum subsidy is 1,500 yuan per item. For digital products, the cap is 500 yuan per item. Each consumer can receive a subsidy for one unit in each category.
Neighboring Shanxi, Hebei Province kicked off the year of 2026 with the new round of trade-in subsidy program starting on January 1.
The subsidies cover automobiles, home appliances, and digital products. Individual consumers who purchase designated Level 1 energy-efficiency appliances or eligible digital products priced at no more than 6,000 yuan can receive subsidies equal to 15 percent of the transaction price. The maximum subsidy is 1,500 yuan per appliance and 500 yuan per digital or smart device, with each person limited to one subsidized item in each category.
Data showed that from Jan 1 to 9, Hebei's home appliance trade-in program alone disbursed more than 130 million yuan in subsidies, driving sales of over 920 million yuan.
In east China's Jiangsu Province, the new trade-in subsidy program, taking effect for two weeks, has brought the province a boom in trade-in.
At a local 4S store in Jiangsu's Suqian City, showroom traffic has spiked as salespeople walked customers through the new benefits from the trade-in subsidy program.
"Under the scrappage-and-replacement scheme, customers who buy a new energy vehicle (NEV) can receive a subsidy worth 12 percent of the vehicle price, capped at 20,000 yuan (about 2,860 U.S. dollars). For combustion-engine cars, the subsidy is 10 percent, with an upper limit of 15,000 yuan. For trade-ins, NEVs are able to receive a subsidy worth 8 percent of the vehicle price, up to 15,000 yuan, while combustion-engine cars will receive a 6-percent subsidy, with a cap of 13,000 yuan," said Sun Yue, a saleswoman at the store.
In the home appliance sector, Jiangsu's policy this year stipulates that only products that meet China's Level 1 energy-efficiency standard are eligible for subsidies. The scheme covers six major categories, including refrigerators and washing machines.
Consumers who purchase qualifying appliances can receive a subsidy equal to 15 percent of the final retail price, up to a maximum of 1,500 yuan per item. Each person is limited to one subsidized unit per product category.
Four types of digital and smart products, such as mobile phones and tablets, are eligible for a 15-percent subsidy capped at 500 yuan per unit, with a retail price no more than 6,000 yuan.
"With the national subsidy policy back in place this year, I went to the store to check what discounts I could get. It knocked 500 yuan off the price. [The discounted price is] very reasonable," said Wang Kang, a resident of Jiangsu's Xuzhou Province.
To enhance the shopping experience for consumers, many retailers are pairing subsidies with "one-stop" services that combine the delivery of new products with on-site collection of old ones.
"After consumers place an order for new home appliances, our staff will schedule a time to pick up the old units. Recycling the old appliance can also further offset the purchase price of the new one," said Yang Jie, a sales supervisor at a major home appliance company.
China's new trade-in program sparks consumption boom
