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CN to Continue National Subsidy Program; RMB138B Central Funds to be Released in Batches: CN Official Media
While the 618 shopping festival has already been abuzz with online and offline promotions for several days, consumers' enthusiasm for trade-in programs is still burning hot, Ch...
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CN to Continue National Subsidy Program; RMB138B Central Funds to be Released in Batches: CN Official Media
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While the 618 shopping festival has already been abuzz with online and offline promotions for several days, consumers' enthusiasm for trade-in programs is still burning hot, China's official media reported. However, there have been discussions on social media about the suspension of the "national subsidy" in some regions.

In response to these discussions, relevant ministries have disclosed that two batches of central funds totaling RMB162 billion were released in January and April this year to support local efforts for consumer goods trade-in programs in 1Q and 2Q, and an additional RMB138 billion in central funds will be released in batches in 3Q and 4Q.

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