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Upgrades to consumer goods, equipment are China’s best bet to boost economy for now
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In Beijing, the local authorities have offered subsidies for individuals replacing their cars with new energy vehicles.
PHOTO: AFP
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BEIJING – China’s call for its people and organisations to upgrade big-ticket items like cars, appliances and industrial equipment could boost the economy in the short term, but this is no silver bullet for ensuring sustained growth, given the country’s long-term structural challenges.
Subsidies, tax incentives and refinancing tools would be extended to relevant projects, according to a government action plan unveiled on March 14.
