China Wants Everyone to Trade In Their Old Cars, Fridges to Help Save Its Economy [Financial Post (Toronto, Ontario, Canada)]
Citigroup, Inc. (C)
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Source: Financial Post
Author of the article: You can save this article by registering for free here . Or sign-in if you have an account. (Bloomberg) — China's world-beating electric vehicle industry, at the heart of growing trade tensions with the US and Europe, is set to receive a big boost from the government's latest effort to accelerate growth. That's one takeaway from what Beijing has revealed about its plan for incentives that will encourage Chinese businesses and households to adopt cleaner technologies. It's widely expected to be one of this year's main stimulus programs, though question-marks remain — including how much the government will spend. Article content Article content Four months after President Xi Jinping flagged a proposal to help households and businesses upgrade old machinery, details are still trickling out. At a briefing earlier this month officials from multiple departments announced the fullest version so far, and promised more to come. Trade-ins have the potential
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