China Wants Everyone to Trade In Their Old Cars, Fridges to Help Save Its Economy
- Car sales set to get biggest boost in Beijing’s trade-in plan
- Overhaul also covers appliances, machinery upgrades for firms
This article is for subscribers only.
China’s world-beating electric vehicle industry, at the heart of growing trade tensions with the US and Europe, is set to receive a big boost from the government’s latest effort to accelerate growth.
That’s one takeaway from what Beijing has revealed about its plan for incentives that will encourage Chinese businesses and households to adopt cleaner technologies. It’s widely expected to be one of this year’s main stimulus programs, though question-marks remain — including how much the government will spend.