[ad_1]
China’s major e-commerce companies, from JD.com to Alibaba Group Holding, are rushing to take advantage of Beijing’s latest subsidies aimed at spurring consumer spending at the start of the year.
Tmall, Alibaba’s premium shopping site carrying mainly established brands, on Wednesday kicked off new subsidies for shoppers buying home appliances.
Rival JD.com on the same day launched a similar campaign allowing consumers in some provinces including Hubei, Hunan and Jiangsu to purchase eligible home appliances using government subsidies.
Alibaba owns the South China Morning Post.
Both platforms are among the earliest to join the central government’s renewed trade-in programme, as they engage in a heated battle with fast-rising e-commerce competitors such as PDD Holdings’ Pinduoduo and ByteDance’s Douyin to woo consumers.
China last year introduced its home appliance trade-in scheme, offering each local consumer a rebate of up to 2,000 yuan (US$274) per item. Eligible products include refrigerators, washing machines, televisions, air conditioners, computers, water heaters, household stoves, and range hoods.
[ad_2]
Source link
