China unveils plan to promote trade

China has rolled out specific measures to facilitate and encourage trade-ins of consumer goods, according to an action plan jointly released by the Ministry of Commerce and 13 other government departments on Friday.

China aims to establish a trade-in mechanism that facilitates the scrapping of used goods in exchange for smart, green and low-carbon ones, according to the plan.

To promote the trade-ins of automobiles, subsidies will be given to consumers who scrap high-emission passenger cars to buy energy-efficient vehicles or new energy vehicles.

The practice of reverse invoicing for second-hand car transactions will be promoted, as well as the service model where the old cars can be collected at their doorsteps.

For used home appliances, the country will provide financial support to establish recycling systems for renewable resources. Local governments and home appliance companies are encouraged to offer subsidies or preferential policies for consumers who purchase or trade for green and smart home appliances.

Localities are encouraged to support the upgrading and renovation of old houses, develop age-friendly facilities, and promote the consumption of smart household products.