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<Research>CICC: CN Consumer Goods Trade-in Measure Can Boost GDP Growth by 0.3 ppts/ Home Appliance Sales by 15%
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The National Development and Reform Commission (NDRC) and the Ministry of Finance (MOF) of China issued a circular entitled “Certain Measures on Strengthening Support for Large-scale Equipment Replacement and Trade-in of Consumer Goods”, proposing to coordinate the arrangement of an ultra-long-term special sovereign bond funds of around RMB300 billion to strengthen support for large-scale equipment replacement and the trade-in of consumer goods, CICC released a research reported saying. This shows that the proactive fiscal policy further materialized, and CICC expected that it may be able to boost GDP growth by around 0.3 ppts in total. Based on the 15% subsidy ratio and flexibility, CICC said that the measure may be able to hike home appliance sales by 15%, or about 0.3% of social retail sales in 2023. AAStocks Financial News |
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