China’s trade-in initiative has fueled over 3 trillion yuan (HK$3.28 trillion) in related product sales, benefiting more than 430 million consumers, according to state-owned media.
In the first half of this year, large-sized and high-capacity home appliances have become particularly popular among consumers, especially in county-level regions, China Central Television, or CCTV, reported.
Sales of ultra-large TVs with a size of 98 inches and above jumped 43 percent year-on-year in the first half of the year, while those of large-capacity refrigerators with odor-removal and sterilization features surged 89 percent, CCTV said, citing data from retailers.
Investment in consumer goods manufacturing and equipment manufacturing — both closely tied to the large-scale equipment upgrade and consumer goods trade-in programs — also saw rapid growth as a result, it said.
