International organizations praise China's policy of trading in old items for new ones, with domestic demand becoming the main driver of economic growth.

The global economic growth is facing increasing uncertainties. Economists from several international institutions have indicated that in this context, the resilience of the Chinese economy is particularly outstanding. In the first half of this year, the structure of the Chinese economy continued to optimize, and among the various data released, the performance on the demand side was particularly impressive. Xing Ziqiang, Chief Economist at Morgan Stanley China, stated that there are two bright spots from the demand side. First, exports have maintained resilience, with fast growth in manufacturing investment, especially in emerging industries and high-tech manufacturing, showing continuous upgrading of the industrial chain and innovation momentum; second, there has been some recovery in domestic consumption. Ito Hideshige, Director of Research at Mizuho Bank China, believes that the effects of the policy of replacing old with new are significant, especially in the sales of household appliances and communication devices. Additionally, new consumption patterns have increased the consumption activity of the younger generation, who are leading the consumption trends, with strong performance in online retail on digital platforms.