Stimulating demand tops policy agenda

Commerce Ministry eyes larger scope for consumer goods trade-in program

More policies are in the pipeline to supercharge domestic demand, with analysts forecasting a doubling of ultra-long special treasury bonds targeting consumption and an expansion of the scope of trade-in programs to encompass a wider range of product categories.

Citing the recently concluded Central Economic Work Conference, analysts said stimulating domestic demand is a top priority among announced major tasks for the coming year, especially amid escalating external challenges. The meeting emphasized that "efforts should be made to vigorously boost consumption and improve investment efficiency".

Sheng Qiuping, vice-minister of commerce, said that against the backdrop of external uncertainties and trade tensions, measures to boost domestic demand are envisioned to promote the integrated development of domestic and international trade, facilitate smooth transitions between the two markets and offer strong support for economic development.