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trade-in of old consumer goods trade-in of old consumer goods

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trade-in of old consumer goods trade-in of old consumer goods

The Central Financial and Economic Commission Emphasizes Boosting Investment and Consumption Through Equipment Updates and Trade-Ins

The recent fourth meeting of the Central Financial and Economic Commission highlighted the importance of implementing large-scale equipment updates and replacing old consumer goods to promote investment and consumption. The meeting, held on February 23, emphasized that these measures will not only benefit the present economic and social development but also have long-term positive effects.

Specifically, the meeting discussed studying the issue of large-scale equipment renewal and trade-ins of consumer goods, as well as effectively reducing logistics costs for the whole society. It was pointed out that a good policy combination is needed to increase the proportion of advanced production capacity, introduce high-quality durable consumer goods into residents’ lives, promote resource recycling, and enhance the national economic cycle’s quality and level. The market-oriented approach, government guidance, and emphasis on encouraging advanced practices while eliminating outdated ones were also highlighted.

Furthermore, the meeting stressed the importance of promoting the technological transformation of production and service equipment, encouraging the trade-in of traditional consumer goods like automobiles and home appliances, and enhancing the recycling of durable consumer goods. It called for the development of a “replacement + recycling” logistics system and new models to benefit more consumers.

In his important speech at the meeting, Chinese President Xi Jinping underscored the significance of accelerating product upgrading as a key measure for promoting high-quality development. He emphasized the need to stimulate a new round of large-scale equipment updates and the exchange of old consumer goods for new ones.

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This strategic approach aligns with China’s commitment to advancing its economic and social development, emphasizing sustainable and efficient practices in the consumption and production sectors. The government’s focus on promoting investment and consumption through equipment updates and trade-ins demonstrates a proactive stance towards fostering innovation and enhancing economic growth.

As the country continues on its path towards becoming a powerful and sustainable economic force, the emphasis on modernizing equipment and improving consumer goods is set to fuel further progress and development in various industries. Through targeted policies and strategic initiatives, China aims to enhance its competitiveness, drive economic productivity, and improve the overall quality of life for its citizens.

Chen Danni, the editor in charge, contributed to this article’s publication on the China Daily English Dianjin Studio platform.

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