Consumer Goods Trade-in Program Drove 1.1 Trillion Yuan in Sales
China's consumer goods trade-in initiative generated 1.1 trillion yuan in sales during the first half of the year, benefiting 150 million people. The program aims to stimulate consumption and upgrade the market.
China's Ministry of Commerce reported that the consumer goods trade-in program drove 1.1 trillion yuan in sales during the first half of 2026. The initiative, known as "trading old for new," aims to revitalize consumption and drive market upgrades.
The program has benefited a total of 150 million people. Notably, automobile trade-ins were significant, with 3.7 million cars swapped for new ones. Additionally, 63.3 million home appliances were traded in, and 79.1 million digital and smart devices were purchased new.
Furthermore, 19 local governments have implemented their own subsidy policies for specific product categories. These incentives contributed to the sale of approximately 992,000 products. The Ministry of Commerce stated the "trade-in" initiative has played a positive role in boosting consumption and improving industrial quality.
The program's overall sales impact has been substantial. As of June 22, the campaign had cumulatively driven 5 trillion yuan in sales and benefited 630 million people. Car sales accounted for 63% of this total value.