China is expanding its trade-in subsidy program to boost domestic spending as external headwinds gain traction. The move aims to promote consumption, particularly in the electronics sector. Currently, the program targets home appliances and cars; however, it will be broadened this year to include personal devices like smartphones, tablets, and smartwatches. This initiative is part of Beijing’s efforts to prioritize domestic demand following recent economic updates.
Source: https://www.bloomberg.com/news/articles/2025-01-03/china-to-subsidize-smartphone-purchases-in-bid-to-lift-spending