According to comprehensive domestic media reports, the National Development and Reform Commission and the Ministry of Finance have further clarified that individual consumers who purchase digital products such as mobile phones, tablets, and smart watches will receive a 15% subsidy. It is reported that brands such as Apple (AAPL.US), Huawei, Xiaomi (01810.HK), vivo, Honor, OPPO, OnePlus, Samsung, iQOO, Lenovo, Xiao Tian Cai, Garmin, and Amazfit are preparing to launch in the Tmall national subsidy section.
Leaders from several consumer electronics companies and e-commerce platforms have stated that they will actively participate in the national subsidy to stimulate the recovery of the consumer market, and once the details are finalized, it is expected to drive the Lunar New Year market trends to start early this year. Honor stated that enterprises can fully enjoy the advantages of the ultra-large consumption market and guide effective demand through national policy subsidies, thereby continuing the ongoing recovery trend in China's smartphone market and bringing about a new round of market growth.
PDD Holdings has recently launched a "government subsidy" section with a 10 billion subsidy, allowing consumers to enjoy a government subsidy of up to 20% per order when purchasing home appliances in the section. Tmall has launched a government subsidy venue and is responsible for the distribution of subsidies across various provinces and cities, while the Taobao app has also launched a new "government assistance" lightweight application.
