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

Like
Comment
Favorite

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

Dow Jones2025-12-29

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)

At the request of the copyright holder, you need to log in to view this content

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Report

Comment

No comments yet

Most Discussed

7x24

All

{"i18n":{"language":"en_US"},"data":{"share":"https://ttm.financial/m/news/2595786469?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2025-12-29 17:40","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"2595786469","market":"nz","top_or_hot":-1,"title":"China's Extension of Trade-In Program Likely to Have Limited Benefit for JD.com -- Market Talk","media":"Dow Jones","content":"<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>","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: 11px; color: #7E829C; margin: 0;line-height: 11px;}\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\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\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\">2025-12-29 17:40</p>\n</div>\n\n</div>\n\n\n</h4>\n\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\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"LU0315179316.USD","symbol_name":"EASTSPRING INVESTMENTS ASIAN DYNAMIC \"A\" (USD) 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. ","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"89618":"京东集团-SWR","LU0315179316.USD":"EASTSPRING INVESTMENTS ASIAN DYNAMIC \"A\" (USD) ACC","LU2242644610.SGD":"Fidelity China Innovation A-ACC-SGD","LU0588546209.SGD":"Eastspring Investments - China Equity Fund AS SGD","BK4588":"碎股","LU0293314216.USD":"ALLIANZ GEM EQUITY HIGH DIVIDEND \"A\" (USD) ACC","LU1188198961.HKD":"SCHRODER ISF CHINA OPPORTUNITIES \"A\" (HKD) INC QV","IE00B29SXG58.USD":"FSSA CHINA FOCUS \"I\" (USD) ACC","LU0359201612.USD":"贝莱德中国基金A2","LU1688375341.USD":"贝莱德中国灵活股票基金","BK4551":"寇图资本持仓","LU1282651048.USD":"ALLIANZ GEM EQUITY HIGH DIVIDEND \"AMG\" (USD) INC","BK4509":"腾讯概念","LU1720050803.USD":"安联全方位中国股票基金","LU0348805143.USD":"ALLIANZ ENHANCED ALL CHINA EQUITY \"A\" (USD) INC","LU0456827905.SGD":"JPMorgan Funds - China A (acc) SGD","BK1610":"ETF&股票定投概念","LU0231483743.USD":"abrdn SICAV I - ALL CHINA SUSTAINABLE EQUITY \"A\" (USD) ACC","LU0149721374.USD":"HSBC GIF HONG KONG EQUITY \"AD\" INC","BK1575":"同股不同权","LU1719994722.HKD":"NINETY ONE GSF ALL CHINA EQUITY \"A\" (HKD) ACC","LU0791590937.USD":"ALLSPRING  EMERGING MARKTES EQUITY INCOME \"A\" (USD)","LU1282649810.SGD":"Allianz Asian Multi Income Plus Cl AMg DIS H2-SGD","LU1770034418.SGD":"ALL CHINA EQUITY \"A\" (SGDHDG) ACC","LU2039709279.SGD":"MANULIFE GF DRAGON GROWTH \"AA\" (SGDHDG) INC","BK4503":"景林资产持仓","LU0463099449.HKD":"SCHRODER ISF CHINA OPPORTUNITIES \"A\" (HKD) ACC","LU0359201885.HKD":"BGF CHINA \"A2\" (HKD) ACC","LU0211977185.USD":"EASTSPRING INVESTMENTS GREATER CHINA EQUITY \"A\" ACC","BK4505":"高瓴资本持仓","LU0163747925.USD":"EASTSPRING INVESTMENTS ASIAN EQUITY A ACC","BK4504":"桥水持仓","LU0417516738.SGD":"Allianz Hong Kong Equity AT Acc SGD","LU0499858602.USD":"NINETY ONE GSF ASIA PACIFIC EQUITY OPPORTUNITIES \"A\" (USD) ACC","LU0868486357.SGD":"JPMorgan Funds - Emerging Markets Opportunities A (acc) SGD-H","IE0032431581.USD":"PINEBRIDGE GREATER CHINA EQUITY \"A\" (USD) ACC","LU0348735423.USD":"ALLIANZ HONG KONG EQUITY \"A\" (USD) INC","LU1366334651.USD":"ALLSPRING EMERGING MARKETS EQUITY INCOME \"I\" (USD) INC","LU0244354667.USD":"SCHRODER ISF CHINA OPPORTUNITIES \"A\" ACC","JD":"京东","SG9999002562.SGD":"LionGlobal Asia Pacific SGD","LU1251922891.USD":"NINETY ONE GSF ALL CHINA EQUITY \"A\" (USD) ACC","SG9999002828.SGD":"Eastspring Investments Unit Trusts - Dragon Peacock A SGD","LU0594300419.USD":"富达中国消费基金A","LU1770036033.HKD":"NINETY ONE GSF ASIAN EQUITY \"A\" (HKD) ACC","LU0650527681.SGD":"Fidelity China Consumer A-SGD","LU1303224171.USD":"NINETY ONE GSF ALL CHINA EQUITY \"A\" (USD) INC","BK4524":"宅经济概念","BK4220":"综合零售","LU2257852520.SGD":"JPMorgan Funds - Asia Growth A (acc) SGD","LU0128522157.USD":"TEMPLETON ASIAN GROWTH \"A\" ACC","LU0320764755.SGD":"FTIF - Templeton Asian Growth A Acc SGD","LU0348825331.USD":"ALLIANZ CHINA EQUITY \"A\" (USD) INC","LU0871576103.HKD":"HSBC GIF CHINESE EQUITY \"AC\" (HKD) ACC","LU0320764599.SGD":"FTIF - Templeton China A Acc SGD","LU1794554557.SGD":"Allianz All China Equity AT Acc H2-SGD","LU0865486749.SGD":"Eastspring Investments - Asian Equity Income AS SGD-H","BK4526":"热门中概股","LU0431992006.USD":"摩根大通新兴市场机会A（acc）","LU1282649067.USD":"ALLIANZ ASIAN MULTI INCOME PLUS \"AMG\" (USD) INC A","HK0000320223.HKD":"TAIKANG KAITAI CHINA NEW OPPORTUNITIES FUND \"A\" (HKD) ACC","LU0499858438.USD":"NINETY ONE GSF ASIA PACIFIC EQUITY OPPORTUNITIES \"A\" (USD) INC","LU0106959298.USD":"UBS (LUX) EQUITY FUND - EMERGING MARKETS SUSTAINABLE LEADERS (USD) \"P\" (USD) ACC","LU0469268626.HKD":"AB FCP I-ASIA EX JAPAN EQUITY PTF(AD","BK4122":"互联网与直销零售","LU1044875133.USD":"天利亚洲反向股票 AU Acc","SG9999001226.SGD":"UNITED SUSTAINABLE ASIA TOP 50 \"A\" (SGD) ACC","BK1502":"双十一","LU0259732245.USD":"EASTSPRING INVESTMENTS DRAGON PEACOCK A","HK0000320264.USD":"TAIKANG KAITAI CHINA NEW OPPORTUNITIES FUND \"A\" (USD) ACC","LU0029875118.USD":"TEMPLETON ASIAN GROWTH \"A\" INC","LU1328277881.USD":"MANULIFE GF DRAGON GROWTH FUND \"AA\" (USD) INC","BK4614":"Manus概念股","BK4579":"人工智能","LU0828237510.HKD":"SCHRODER ISF BIC (BRAZ IN CH)\"A\" (HKD) ACC","LU0672654166.SGD":"FTIF - Templeton Asian Growth A (acc) SGD-H1","BK1142":"互联网与直销零售","LU0228659784.USD":"施罗德金砖四国基金","LU0314109678.HKD":"MANULIFE GF DRAGON GROWTH \"AA\" (HKD) INC","LU0051755006.USD":"摩根大通中国A (dist)","LU0370786039.SGD":"Fidelity Greater China A-SGD","LU1044876610.USD":"THREADNEEDLE (LUX) ASIAN CONTRARIAN EQUITY \"ZU\" (USD) ACC","LU0543330483.HKD":"TEMPLETON ASIAN GROWTH \"A\" (HKD) ACC","LU1023057109.AUD":"BGF CHINA \"A2\" (AUDHDG) ACC","LU1366334578.USD":"ALLSPRING EMERGING MARKETS EQUITY INCOME \"A\" (USD) INC","LU0326950275.SGD":"Schroder ISF China Opportunities A Acc SGD-H","LU1481107354.HKD":"HSBC GIF HONG KONG EQUITY \"AD\" (HKD) INC","LU0572944931.SGD":"Janus Henderson Horizon China Opportunities A2 SGD","BK1588":"回港中概股","LU1642822792.SGD":"THREADNEEDLE (LUX) ASIAN CONTRARIAN EQUITY \"A\" (SGD) ACC","BK1615":"港股-互联网","LU0417516902.SGD":"Allianz China Equity Cl AT Acc SGD","BK4531":"中概回港概念","LU1044874839.SGD":"THREADNEEDLE (LUX) ASIAN CONTRARIAN EQUITY \"AGH\" (SGDHDG) ACC","LU0084288322.USD":"Natixis Asia Equity RD USD","LU0164865239.USD":"HSBC GIF CHINESE EQUITY \"AC\" (USD) ACC","BK1619":"稳定币概念","LU0708995583.HKD":"TEMPLETON CHINA \"A\" (HKD) ACC","LU1813983027.USD":"MANULIFE GF DRAGON GROWTH \"AA\" (USD) INC","LU0327786744.USD":"Janus Henderson Horizon China Opportunities A2 USD","LU1282651121.HKD":"ALLIANZ GEM EQUITY HIGH DIVIDEND \"AMG\" (HKD) INC","LU0345775950.USD":"NINETY ONE GSF ASIAN EQUITY \"A\" (USD) ACC","LU0228367735.SGD":"Eastspring Investments - Asian Equity Fund AS SGD","LU0140636845.USD":"施罗德大中华区股票A Acc","HK0000306685.HKD":"TAIKANG KAITAI CHINA NEW OPPORTUNITIES FUND \"A\" (HKD) INC","BK1249":"综合零售","LU0164880469.USD":"HSBC GIF HONG KONG EQUITY \"AC\" ACC","LU1880383366.USD":"东方汇理中国股票基金 A2 (C)","LU0588545904.SGD":"Eastspring Investments - Asian Equity Income ASDM SGD","LU0588545730.USD":"EASTSPRING INVESTMENTS ASIAN EQUITY INCOME \"ADM\" (USD) INC","LU0359202008.SGD":"Blackrock China Fund A2 SGD-H","LU0456846285.SGD":"JPMorgan Funds - Greater China A (acc) SGD","SG9999002463.SGD":"LionGlobal China Growth SGD","IE0008368742.USD":"首域中国增长基金I Acc","IE00B3M56506.USD":"NEUBERGER BERMAN EMERGING MARKETS EQUITY \"A\" (USD) ACC","LU0048580855.USD":"富达大中华区A","LU1808992512.USD":"AB ALL CHINA EQUITY PORTFOLIO \"A\" (USD) ACC","HK0000306701.USD":"TAIKANG KAITAI CHINA NEW OPPORTUNITIES FUND \"A\" (USD) INC","LU0456842615.SGD":"JPMorgan Funds - Emerging Markets Equity A (acc) SGD","LU0588545490.SGD":"Eastspring Investments - Asian Equity Income AS SGD","LU0531971595.HKD":"HSBC GIF CHINESE EQUITY \"AD\" (HKD) INC","LU0052750758.USD":"富兰克林中国基金A Acc","LU0791591158.USD":"ALLSPRING  EMERGING MARKTES EQUITY INCOME \"I\" (USD) ACC","LU0488056044.USD":"Allianz Asian Multi Income Plus Cl AM DIS USD","LU0384037296.USD":"ALLIANZ ASIAN MULTI INCOME PLUS \"AT\" (USD) ACC","BK4585":"ETF&股票定投概念","IE00BGV7N243.SGD":"FSSA Global Emerging Markets Focus I Acc SGD","BK1591":"就地过年概念","09618":"京东集团-SW","BK4558":"双十一","LU0345776255.USD":"NINETY ONE GSF ASIAN EQUITY \"A\" (USD) INC","LU0039217434.USD":"HSBC GIF CHINESE EQUITY \"AD\" INC","LU0315178854.USD":"EASTSPRING INVESTMENTS ASIAN EQUITY INCOME \"A\" ACC","LU1224444064.USD":"ALLIANZ GEM EQUITY HIGH DIVIDEND \"AM\" (USDHDG) INC","LU0307460666.USD":"EASTSPRING INVESTMENTS CHINA EQUITY \"A\" ACC"},"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,"09618":1.9,"JD":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"},"commentList":[],"hasMoreComments":false,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"isCrawlerRequest":true}