A banner plays up China's trade-in policy at a home goods expo in Qingdao, Shandong province, China, on June 1, 2024.
Nurphoto | Nurphoto | Getty ImagesBEIJING — China's plan to boost consumption by encouraging trade-ins has yet to show significant results, several businesses told CNBC.
Analysts are not overly optimistic about the extent to which the trade-in program could support retail sales.
China's retail sales for August are due Saturday morning.
Retail sales in June rose by 2%, the slowest since the Covid-19 pandemic, while July sales growth saw a modest improvement at 2.7%.
Persons:
Jens Eskelund, Tao Wang, Sally Loh, Otis, Kone, We've, Ilkka Hara, Hara
Organizations:
Nurphoto, Getty, BEIJING, CNBC, EU Chamber of Commerce, UBS Investment Bank, China, U.S, Otis
Locations:
Qingdao, Shandong province, China, Greater China