Beijing is betting on rice cookers and microwaves to boost its economy

The Chinese government has expanded the list of products that people can sell, allowing the country to get a 20% discount on new products. tries to promote its remarkable economy.

The list includes items such as microwave ovens, dishwashers, rice cookers and water purifiers.

State-backed trade-in schemes already covered TVs, phones, tablets and smartwatches as well as electric and hybrid vehicles.

It has the second largest economy in the world various challengesincluding weak consumer demand and a deepening property crisis.

On Wednesday, officials said 81 billion yuan (£8.9 billion; $11 billion) had been earmarked this year for the consumer goods swap scheme.

China’s top economic planning body said the schemes, launched in March, have already produced “spectacular results”.

According to the country’s Commerce Ministry, the policies have boosted sales of big-ticket items such as home appliances and cars.

But some economists have questioned whether the schemes will be enough to significantly boost consumer spending.

“The approach has had mixed success so far,” said Harry Murphy Cruise, head of China economics at Moody’s Analytics.

“While it has supported sales of some listed goods, such as cars and appliances, it has not spurred an overall increase in spending.”

In recent months, China has stepped up measures to support its domestic economy as the country’s exporters face increasing challenges.

In December, a major meeting of Chinese leaders stressed the need for “robust” efforts to boost consumer spending.

That was President-elect Donald Trump, who will return to the White House this month. He threatened to impose a 60% tariff In products made in China.

China will announce economic growth figures for 2024 next week, which Beijing says will be around 5%.