Over 20 million Chinese consumers apply for electronic products trade-in subsidies

China

Over 20 million Chinese consumers apply for electronic products trade-in subsidies

2025-02-10 12:18 Last Updated At：02-11 00:57

More than 20 million consumers have applied for China's electronic products trade-in subsidies since the government launched the new pro-consumption program three weeks ago, in addition to the action plan adopted in March 2024 to promote large-scale equipment renewal and trade-in of consumer goods, according to the latest official data released by the Ministry of Commerce on Sunday.

Some 20.09 million consumers applied for the subsidies to buy 25.41 million units of electronic products such as mobile phones as of Saturday, showed the Ministry of Commerce data.

China started to offer subsidies for electronic products trade-in from Jan. 20 as the country expanded the scope of consumer goods trade-in programs to further boost consumption, which provides consumers with up to 500 yuan (about 68.60 U.S. dollars) apiece on the purchase of digital products.

Card payment giant China UnionPay said it has recorded 6.27 million subsidized transactions with sales value totaling 20.58 billion yuan (about 2.82 billion U.S. dollars) in the reporting period.

Driven by the government incentives, mobile phone sales in China jumped by 74 percent in volume and 65 percent in value on a weekly basis in the week prior to the Spring Festival, which fell on Jan. 29 this year, market data revealed.

The March 2024 adoption of the action plan to promote large-scale equipment renewal and trade-in of consumer goods is part of efforts to boost domestic demand and support economic growth. Official data showed that the trade-in scheme boosted sales of automobiles by 920 billion yuan (about 126.22 billion U.S. dollars) last year, and that of home appliances by 240 billion yuan (about 32.93 billion U.S. dollars).

Brazil in midst of heatwave with more extreme temperatures expected

Multiple states across Brazil have been gripped by an intense heatwave in recent days, prompting local authorities to issue weather alerts and urging residents to take precautions, with the high temperatures forecast to continue.

Southeastern states including Sao Paulo, Rio de Janeiro, and Minas Gerais have been experiencing the most extreme heat, with temperatures climbing to a sweltering high of 40.8 degrees Celsius in Rio de Janeiro on Monday.

Authorities across the country have been sending out weather warnings, with residents being advised to avoid prolonged outdoor activities and medics reminding people to take measures to ensure they stay hydrated.

"[You have to] drink plenty of water, use a fan. There is not much you can do to escape it, really. It is absurdly hot," said Ana Flavia, a local resident in Sao Paulo.

"With this change in temperature and the excessive heat, we see a lot of cases of dehydration," said Tiago Foliate Pitirilo, a doctor from the city's Hospital Sao Camilo.

The sweltering heat may be around for a while more, according to experts, who say higher water temperatures in the Pacific Ocean mean Brazil is likely to face more frequent heatwaves this year.

"The ocean forecast indicates that in the second half of the year we will have a warmer Pacific Ocean. This allows us to infer that the number of heat waves in 2026 may be higher than last year, when the Pacific Ocean was cooler," said Marecelo Seluchi, a meteorologist from Brazil's National Center for Monitoring and Alerts for Natural Disasters (CEMADEN).