BEIJING, Jan 1 (Bernama-Xinhua) — Sales of consumer goods under the government-supported trade-in programme exceeded 2.6 trillion yuan (about US$369.9 billion) last year, benefiting over 360 million people, data from China’s Commerce Ministry showed on Thursday, reported Xinhua.
Specifically, over 11.5 million automobiles, 129 million home appliances, 91 million digital products, 120 million home decoration, kitchen and bathroom items, as well as 12.5 million electric bicycles were purchased through the trade-in programme in 2025.
In the first 11 months of 2025, retail sales of consumer goods rose four per cent year on year, with the trade-in programme contributing over one percentage point to the growth, according to the ministry.
The initiative also drove industrial upgrading and the green transition. New energy vehicles accounted for nearly 60 per cent of automobile trade-ins, helping push the retail market share of new energy passenger vehicles above 50 per cent for nine consecutive months.
In 2025, the recycling volume of scrapped automobiles jumped 24.5 per cent year on year, which facilitated the recycling of about 9.6 million tonnes of steel and 1.3 million tonnes of non-ferrous metals, reducing carbon emissions by approximately 24.5 million tonnes.
Since the programme’s implementation in September 2024, over 480 million subsidies have been issued directly to Chinese consumers, bringing green, low-carbon and smart products into their daily life, said the ministry.
Chinese authorities announced late last month that the trade-in subsidy programme for consumer goods will be renewed in 2026 as part of the broader efforts to boost consumption, with 62.5 billion yuan (about US$8.9 billion) in ultra-long special treasury bond funds allocated in advance to support this year’s programme.
The expansion of domestic demand is set to top China’s major economic priorities this year, according to the recent Central Economic Work Conference, which also outlined plans to implement consumption-boosting campaigns, as well as plans to increase the incomes of urban and rural residents.
–BERNAMA-XINHUA