China's trade-in programs boost major home appliance sales

China's consumer goods trade-in programs have prompted major companies and e-commerce platforms to offer attractive incentives, driving significant growth in the sales of major home appliances and furniture.

In the city of Chengdu, capital of southwest China's Sichuan Province, a number of home furnishing and appliances companies have jointly launched a whole-home trade-in promotion. One home goods mall's "whole-home renewal" discounts have attracted a steady stream of customers.

"I just moved into a new house, and I'm here mainly to check out the whole-home package deals. The salesperson told me that I can get a discount of around 2,000-3,000 yuan (about 280-420 U.S. dollars) by trading in my old items, which is very helpful for me," said a local resident in the mall.

Beyond these home goods malls, some e-commerce platforms have also expanded their trade-in programs offline. An e-commerce mall in Chongqing Municipality neighboring Sichuan is offering up to 20 percent off for trading in old products, as well as promotions like "buy two, get one free" for home appliances.

"Other recyclers only give me a few dozen yuan for my old fridge, which doesn't seem worth it. But the fridge deal offered by the mall can get me at least 400 yuan for the trade-in, which I think is pretty substantial," said a Chongqing resident named Huang Xi.

Data from the Ministry of Commerce shows that China's online retail sales reached 7.1 trillion yuan in the first half of this year, up 9.8 percent. Digital products, service consumption, and trade-in programs have become new growth points. E-commerce platforms have enabled over 400,000 product trade-ins across more than 300 categories, with fridge, washing machine, mobile phone and TV trade-in growth reaching 82.1 percent, 70.4 percent, 63.9 percent and 54.3 percent, respectively.

"During this year's 618 (June 18) Mid-Year Shopping Festival, with the support of the trade-in programs, over 700 home appliance and furniture brands saw their sales double year-over-year. Air conditioner trade-ins had the highest growth, surpassing 200 percent quarter-over-quarter," said Sun Jian, manager of an e-commerce store in Chongqing.

China's trade-in programs boost major home appliance sales

The Aero Engine Corporation of China (AECC) officially launched China's first self-developed advanced civil turboshaft engine AES100 during the ongoing 15th China International Aviation and Aerospace Exhibition in the southern coastal city of Zhuhai on Wednesday.

The AES100 engine is mainly employed in civil helicopters and has gained its type certificate from the Civil Aviation Administration of China (CAAC).

The take-off power of the turboshaft engine AES100 turboshaft engine is no less than 1,000kW, and it can be equipped with a 5-6 tonne twin-engine helicopter or a 3-tonne single-engine helicopter, according to its developer AECC.

The AECC said the engine has the advantages of high efficiency, low fuel consumption, long lifespan, high reliability, and meets the needs of a wide range of fields.

Featuring advanced design, technologies, and a management system, the AES100 engine can operate safely and steadily under complex conditions including freezing weather, heavy rain, and a strong electromagnetic environment. Helicopters powered by this engine can perform a variety of tasks, including patrol, rescue, sightseeing, as the engine is highly adaptable and can be used in diverse scenarios, said Li Gaiqi, chief designer of AES100.

Moreover, the ASE100 engine can be upgraded into turboprop engine, turbofan engine, and ground-based lightweight gas turbine to power small and medium-sized turboprop aircraft, jet business aircraft, and ground-based mobile power stations.

In addition to AES100, a total of 10 general aviation power products were also showcased by AECC at the launching event during the 15th China International Aviation and Aerospace Exhibition.

The highly-anticipated biennial aerospace trade event, also known as Airshow China, will run through Sunday. It has attracted 1,022 companies from 47 countries and regions to showcase their star aviation and aerospace products, including a record number of products being debuted to the public at the event.

China's first homegrown advanced civil aircraft engine unveiled at Zhuhai Airshow