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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 1 (Xinhua) — Trade-in sales of consumer goods in China exceeded 2.6 trillion yuan (approximately 369.9 billion U.S. dollars) last year, with more than 360 million people using the program, according to data released Thursday by the Ministry of Commerce.
In particular, over 11.5 million cars, 129 million household appliances, 91 million digital products, 120 million home furnishings, and 12.5 million electric bicycles were purchased under the trade-in program in 2025.
According to the agency, in the first 11 months of 2025, retail sales of consumer goods grew by 4 percent year-on-year, with the trade-in program's contribution to this growth exceeding 1 percentage point.
The program also contributed to industrial modernization and a green transition. Among vehicles purchased through the trade-in program, new energy vehicles accounted for nearly 60 percent, leading to the share of new energy passenger cars in total retail sales exceeding 50 percent for nine consecutive months.
In 2025, the recycling volume of scrapped vehicles increased by 24.5 percent year-on-year, contributing to the reuse of approximately 9.6 million tons of steel and approximately 1.3 million tons of non-ferrous metals, and consequently reducing carbon emissions by approximately 24.5 million tons.
Since the program's launch in September 2024, more than 480 million subsidies have been issued directly to Chinese consumers, bringing a significant amount of green, low-carbon, and smart products into their daily lives.
In late December 2025, Chinese authorities announced that the trade-in subsidy program for consumer goods would be extended in 2026 as part of a broader effort to stimulate consumption. To support this program, the first funds were released early in the form of special ultra-long-maturity treasury bonds totaling 62.5 billion yuan.
As announced at the recent Central Economic Work Conference, expanding domestic demand will be China's top economic priority in the coming year. The meeting outlined plans for campaigns to stimulate consumption and increase incomes for both urban and rural residents.
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