A new round of trade-in and government subsidy program is energizing the consumer market these days in southwest China's Yunnan Province, with a boom in sales seen in home appliances, electronics and smart products.
In Yunnan's Weixin County, retail stores are bustling with customers drawn by posters promoting a national subsidy of 15 percent. Eco-friendly and smart devices, especially those products with China's Level 1 energy-efficiency standard have emerged as top sellers.
"Fridges and water heaters with Level 1 energy-efficiency standard are most popular, with higher sales than last year's. We've also introduced door-to-door recycling for old home appliances, along with free installation and setup services, so that consumers are satisfied with their purchases through the trade-in program," said Yang Zhi, owner of a local home appliance store.
In another store selling mobile phones, the trade-in subsidy program has also drawn many customers. Some brought their old phones to ask for trade-in offers.
"I want to get a new phone and I know there's a government subsidy program. So, I came here to take a look and I just bought one. It saved me 400 yuan (about 58.6 U.S. dollars) in total," said Wei Xuemei, a customer.
Since the start of the year, Yunnan has stepped up efforts to promote large-scale equipment upgrades and consumer goods trade-ins to further stimulate consumption. Under the policy package, subsidies for car purchases can reach up to 20,000 yuan (about 2,930 U.S. dollars), while home appliances are eligible for subsidies worth 15 percent of the sale price.
Trade-in program boosts sales in home appliance, electronics in Yunnan
