China to expand subsidies on smartphone purchases in bid to lift spending

Quick Summary:

The program targeted rural residents and also covered home appliances, computers and cars, before ending in 2013.

The move is part of China’s efforts to encourage consumption to offset the effects of any new US tariffs on Chinese exports, which have been a key growth driver.

Subsidies for upgrading business equipment will also be expanded to cover areas including agricultural facilities, according to Yuan.

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Article Details

Category: BusinessFinance

Markets: IndiaChina

Topics: Phone subsidies China phone industry China economy China smartphone subsidies

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-01-03 @ 23:22:17 (3 days ago)

News Timezone: GMT +5:00

News Source URL: business-standard.com

Language: English

Article Length: 426 words

Reading Time: 3 minutes read

Sentences: 18 lines

Sentence Length: 24 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Business Standard

News ID: 24860910

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