China wants everyone to trade in their old cars, fridges to help save its economy

News Snapshot:

BEIJING – China’s world-beating electric vehicle (EV) industry, at the heart of growing trade tensions with the United States and Europe, is set to receive a big boost from the government’s latest effort to accelerate growth. That is one takeaway from what Beijing has revealed about its plan for incentives that will encourage Chinese businesses and households to adopt cleaner technologies. It is widely expected to be one of 2024’s main stimulus programmes, although question marks remain – including how much the government will spend. Four months after President Xi Jinping flagged a proposal to help households and businesses upgrade...