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Source: People's Republic of China in Russian – People's Republic of China in Russian –
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Source: People's Republic of China – State Council News
BEIJING, January 6 (Xinhua) — China's government-subsidized nationwide trade-in program for consumer goods in 2024 and 2025 generated sales of 3.92 trillion yuan (approximately $558.62 billion), with consumers using the program 494 million times, according to data from the Ministry of Commerce presented at a press conference on Tuesday.
This initiative also contributed to industrial modernization and the green transition. During the reporting period, approximately 18.3 million vehicles were purchased through the trade-in program, with nearly 60 percent of these being vehicles powered by new energy sources.
Under the program, Chinese consumers have purchased 192 million appliances over the past two years, over 90 percent of which were high-end energy-efficient models.
From 2024 to 2025, more than 17.67 million decommissioned vehicles were scrapped across the country, with an average annual increase of 45.8%.
Additionally, nearly 39.69 million used car transactions were registered during the reporting period. Approximately 53 million used household appliances and mobile phones underwent standardized dismantling and recycling procedures, with an average annual increase of approximately 12%.
Late last month, Chinese authorities announced the extension of the trade-in consumer goods subsidy program to 2026 as part of a broader effort to stimulate domestic consumption. To support the program, 62.5 billion yuan in the form of ultra-long special treasury bonds was allocated ahead of schedule this year.
At the Central Economic Work Conference held at the end of 2025, expanding domestic demand was identified as one of China's top economic priorities for the current year. Participants outlined a plan of measures to stimulate consumption, as well as measures to increase incomes for both urban and rural residents.
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