China's trade-in programs drive $354 bln in consumer spending in Jan-Nov

From January to November this year, China's consumer goods trade-in programs drove related product sales to over Yuan 2.5 trillion ($353.5 billion), benefiting more than 360 million people, with significant increases in car, home appliance, mobile phone, and electric bicycle replacements, according to state broadcaster CCTV News.

From January to November, over 11.2 million cars and 128 million household appliances were traded in for new ones, more than 90.15 million mobile phones and other digital products received purchase subsidies, over 12.91 million electric bicycles were replaced, and more than 120 million home renovation and kitchen &