China recently doubled subsidies for a consumer trade-in program to 300 billion yuan, aimed at boosting consumption without resorting to cash handouts. The subsidies, covering 15% to 20% of select product purchases like smartphones and appliances, are expected to support retail sales and align with China’s 5% GDP growth target and focus on consumption over infrastructure spending. While some doubt the long-term impact of one-time subsidies, further programs are anticipated as Beijing looks to stimulate growth through consumer spending.
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Where hosepipe ban for millions comes into place today
Southern Water has implemented a hosepipe ban affecting Hampshire and the Isle of Wight, effective from 9 am today, due to critically low water levels amid prolonged dry weather. Residents face fines for violating the ban, which aims to conserve water during a time when the UK's reservoirs are significantly depleted, with ongoing drought conditions impacting agriculture and water supply infrastructure. Explain It To Me Like I'm 5: Southern Water has imposed a hosepipe ban...
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