China's trade-in program shifts toward green, high-tech products

China's consumer goods trade-in program will prioritize green and intelligent products this year, while ensuring stronger support for brick-and-mortar retailers, the country's commerce minister said on Friday.

"Trade-ins are not simply about replacing old items with new ones," Commerce Minister Wang Wentao said. "They also help create market space for emerging industries and high-tech products."

Meanwhile, offline retail sales growth during the nine-day Spring Festival holiday outpaced online sales growth by 3.9 percentage points—the first time in recent years, Wang said at a news conference on the sidelines of the fourth session of the 14th National People's Congress, China's top legislature.

China is accelerating efforts to pilot new consumption models and scenarios, with central fiscal funding designated to support 50 pilot cities, including Beijing, Wang said.

In addition, China will also broaden market access for foreign investors in key service sectors and expand pilot programs in value-added telecom services, biotechnology and wholly foreign-owned hospitals, he added.

wangkeju@chinadaily.com.cn