China Rolls Out Major Trade-In Plan to Spur Economic Growth Across Industries

China has launched a large-scale trade-in scheme to upgrade industrial equipment and drive consumer spending to boost economic growth
The program aims to increase investments in heavy industry, construction, agriculture etc. by 25% by 2027
It encourages over 90% of industrial enterprises to use digital design tools to improve efficiency
The plan focuses on increasing trade-ins for cars, appliances, and furniture through incentives
The program's success relies on whether companies and households participate extensively, as outlooks must improve alongside lower costs