HONG KONG -- China on Wednesday said it will expand subsidies to spur sluggish consumer spending, as Beijing seeks to cushion possible blows from higher U.S. tariffs this year.
An existing national trade-in program will be broadened to 12 categories of goods, from eight, with the additions including dishwashers, rice cookers and microwaves, an official from the country's top economic planning body announced. Up to 20% of sale prices will be subsidized by the government.
