China has expanded its trade-in program to boost consumer spending on home appliances.
ADOn Wednesday, China added home appliances, including microwave ovens, water purifiers, dishwashers, and rice cookers, in a trade-in program designed to spur demand.
ADThe Chinese government, which had allocated 81 billion yuan, or $11 billion, for the trade-in program, said on Wednesday that the program had yielded positive results.
Official inflation data released on Thursday gave little cheer, with China's consumer price index last year inching up just 0.2% from a year ago.
Analysts generally expect China's inflation data to pick up this month thanks to seasonal factors as Chinese New Year, which starts on January 29.
Persons:
Li Gang, Lynn Song
Organizations:
CPI, Greater China, ING, Nomura
Locations:
China, Beijing, Greater