China's Extension of Trade-In Program Likely to Have Limited Benefit for JD.com -- Market Talk

Dow Jones

2025/12/29

0940 GMT - China's extension of a trade-in program is likely to provide limited benefit to China's top home appliances retailer JD.com, according to Citi analysts in a research note. Beijing recently said that it would introduce proactive fiscal policy to boost consumption, including arranging funds to support an extension of the ongoing government-backed trade-in program for consumer goods, the analysts point out. Investors are still awaiting details from Beijing. "While an extension of trade-in program support could be positive, it is likely to have limited benefit to JD.com given a high base for home appliances in 1H 2026, "the analysts say. Overall funding could also be applied to broader product categories rather than focusing on home appliances and electronics, they note. (tracy.qu@wsj.com)

(END) Dow Jones Newswires

December 29, 2025 04:40 ET (09:40 GMT)

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Beijing recently said that it would introduce proactive fiscal policy to boost consumption, including arranging funds to support an extension of the ongoing government-backed trade-in program for consumer goods, the analysts point out. Investors are still awaiting details from Beijing. \"While an extension of trade-in program support could be positive, it is likely to have limited benefit to JD.com given a high base for home appliances in 1H 2026, \"the analysts say. Overall funding could also be applied to broader product categories rather than focusing on home appliances and electronics, they note. (tracy.qu@wsj.com) \n</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  December 29, 2025 04:40 ET (09:40 GMT)\n</p>\n<p>\n  Copyright (c) 2025 Dow Jones &amp; Company, Inc.\n</p>\n</font>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>China's Extension of Trade-In Program Likely to Have Limited Benefit for JD.com -- Market Talk</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nChina's Extension of Trade-In Program Likely to Have Limited Benefit for JD.com -- Market Talk\n</h2>\n<h4 class=\"meta\">\n<div class=\"head\" \">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time smaller\">2025-12-29 17:40</p>\n</div>\n</div>\n</h4>\n</header>\n<article>\n<font class=\"NormalMinus1\" face=\"Arial\">\n<p>\n     0940 GMT - China's extension of a trade-in program is likely to provide limited benefit to China's top home appliances retailer JD.com, according to Citi analysts in a research note. Beijing recently said that it would introduce proactive fiscal policy to boost consumption, including arranging funds to support an extension of the ongoing government-backed trade-in program for consumer goods, the analysts point out. Investors are still awaiting details from Beijing. \"While an extension of trade-in program support could be positive, it is likely to have limited benefit to JD.com given a high base for home appliances in 1H 2026, \"the analysts say. Overall funding could also be applied to broader product categories rather than focusing on home appliances and electronics, they note. (tracy.qu@wsj.com) \n</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  December 29, 2025 04:40 ET (09:40 GMT)\n</p>\n<p>\n  Copyright (c) 2025 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"LU0140636845.USD","symbol_name":"施羅德大中華區股票A Acc","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2595786469","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2595786469","pubTimestamp":1767001200,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"0940 GMT - China's extension of a trade-in program is likely to provide limited benefit to China's top home appliances retailer JD.com, according to Citi analysts in a research note. Beijing recently said that it would introduce proactive fiscal policy to boost consumption, including arranging funds to support an extension of the ongoing government-backed trade-in program for consumer goods, the analysts point out. Investors are still awaiting details from Beijing. \"While an extension of trade-in program support could be positive, it is likely to have limited benefit to JD.com given a high base for home appliances in 1H 2026, \"the analysts say. Overall funding could also be applied to broader product categories rather than focusing on home appliances and electronics, they note. 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Asian Equity Fund AS SGD"},"translate_title":"中国延长以旧换新计划对京东的好处可能有限——市场讨论","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"89618":0.6,"JD":1.9,"09618":1.9},"content_text":"0940 GMT - China's extension of a trade-in program is likely to provide limited benefit to China's top home appliances retailer JD.com, according to Citi analysts in a research note. Beijing recently said that it would introduce proactive fiscal policy to boost consumption, including arranging funds to support an extension of the ongoing government-backed trade-in program for consumer goods, the analysts point out. Investors are still awaiting details from Beijing. \"While an extension of trade-in program support could be positive, it is likely to have limited benefit to JD.com given a high base for home appliances in 1H 2026, \"the analysts say. Overall funding could also be applied to broader product categories rather than focusing on home appliances and electronics, they note. (tracy.qu@wsj.com) \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  December 29, 2025 04:40 ET (09:40 GMT)\n\n\n  Copyright (c) 2025 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":true,"code":"91000000","status":"200"}}}