China's Commerce Ministry to optimise trade-in program to boost consumption of autos, home appliances, electronics and smart durable goods
Newsquawk Staff ·
China's Commerce Ministry to optimise trade-in program to boost consumption of autos, home appliances, electronics and smart durable goods.
What it means
This move by China's Commerce Ministry to optimize the trade-in program aims to stimulate consumer spending in key sectors such as autos and electronics. It signals a proactive approach to bolster domestic demand amidst economic pressures, which could provide support to both manufacturing and related sectors. Traders should watch for potential impacts on commodities and currencies correlated with these industries in the wake of increased consumption.
- China's Auto Industry Body CPCA says Tesla (TSLA) sold 67,829 China-made vehicles in Oct (prev. 95,366 M/M)
- PBoC pledges to enhance stock market support measures by expanding participation in its swap facility for securities firms, funds and insurers, moderately lowering swap fees and conducting operations when appropriate
- China proposes easing FX rules for current account transactions
- Japan's Chief Cabinet Secretary Kihara says JPY 1.1tln of reserve funds is to support fuel price measures
- Japanese PM Takaichi says they will be commencing electricity and gas support measures from December, until February
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