Key Points
- China’s plan to boost consumption by encouraging trade-ins has yet to show significant results since it was announced in late July, businesses said.
- “We are not aware of companies that have seen this translate, since the promulgation of the measures, into concrete incentives on the ground in China,” Jens Eskelund, president of the EU Chamber of Commerce in China, told reporters earlier this week.
- Several major cities and provinces have only in the last few weeks announced details on how the trade-in program would work for residents.
