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Arya News - China`s stimulus scheme for consumer goods trade-ins boosted last year`s consumption growth by more than 1 percentage point, Vice Commerce Minister Sheng Qiuping said on Friday, as authorities steer expansion of the plan this year. Sales of cars, home appliances, electric bicycles and other products under the scheme launched last year reached 1.3 trillion yuan ($179.45 billion), boosting 2024 retail sales growth by more than 1 percentage point, Sheng told a news conference. In 2024, China`s retail sales grew 3.5% year-on-year.