In an effort to increase domestic consumption, China’s Ministry of Commerce has recently unveiled plans to establish a chain of second-hand markets throughout the country.
This comes as part of China’s plan to stimulate the economy through an increase in domestic spending, which will be a tough task as individual’s incomes are affected by the financial downturn.
Officials believe that creating a market for second-hand goods like home appliances and clothes will encourage individuals to sell off their current possessions in order to buy new ones.
The theory being this being that people who are hesitant to buy new refrigerators and televisions may have increased incentives if they can recuperate some of the expenses of their current appliances. It also will provide cheap goods to those who cannot afford new merchandise.