China is leading the global
movement for electronics recycling with a combination of policy
initiatives and the rise of a new generation of professional
recyclers
HONG KONG, April 18, 2024 /PRNewswire/ -- Kerry Xuefeng
Chen, Chairman and CEO of ATRenew (RERE.US), a leading
technology-driven pre-owned consumer electronic transactions and
services platform in China,
discusses the huge potential for recycling of smartphones,
electronics and even luxury goods in a new "Expert Corner" opinion
piece on Bamboo Works.
China, the world's largest
smartphone market and ATRenew's home base, is leading the recycling
charge through a confluence of factors, including government policy
initiatives and the rise of platforms that can assure product
quality.
Below are some key excerpts. To read the entire opinion, please
go to:
https://thebambooworks.com/perfect-storm-of-factors-fuels-rise-in-smartphone-recycling/
Kerry Xuefeng Chen, Chairman and
CEO of ATRenew:
- "While the global market for new smartphones has been
contracting for more than two years, the opposite is true for used
products. Global new smartphone sales fell 3.2% last year to about
1.17 billion units, even as used smartphone sales actually rose
nearly 10% for the year to 310 million units."
- "Both local and national governments are helping to drive the
trend towards more smartphone recycling and trade-ins in
China. … Most recently,
China's State Council in March
issued a notice on promoting mass-scale trade-ins of consumer
products, demonstrating its determination to pursue a circular
model of consumer goods use at a national level."
- "Industry groups like the Global Battery Alliance, a
partnership of more than 150 businesses, governments and industry
players, are getting involved as well with their own recycling
initiatives. Those include the alliance's "battery passport" that
encourages "responsible sourcing, management, recycling and
use of a battery across its full lifecycle."
About ATRenew:
Headquartered in Shanghai,
ATRenew Inc. operates a leading technology-driven pre-owned
consumer electronics transactions and services platform in
China under the brand ATRenew.
Since its inception in 2011, ATRenew has been on a mission to give
a second life to all idle goods, addressing the environmental
impact of pre-owned consumer electronics by facilitating recycling
and trade-in services, and distributing the devices to prolong
their lifecycle.
About Bamboo Works:
Bamboo Works showcases Chinese companies listed in Hong Kong and the
United States, with a strong focus on mid-cap and pre-IPO
companies. We offer free and premium bilingual content through our
website, newsletters, research notes, audio and video products.
Such content also appears on major third-party financial news
platforms in English and Chinese.
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content:https://www.prnewswire.co.uk/news-releases/bamboo-works-spotlights-potential-for-smartphone-recycling-in-expert-opinion-from-atrenew-chairman-kerry-chen-302120567.html