Henan Province Announces Details of Consumer Goods Trade-in Program for Second Half of 2026

Henan Province announced the specifics of its upcoming consumer goods trade-in program, set to launch in the second half of 2026. The details were shared at a press conference held on Tuesday. The program aims to boost consumption by providing substantial government subsidies for the purchase of new vehicles and home appliances.

For vehicle purchases, the initiative offers significant financial incentives. Individual consumers who scrap their old vehicle and purchase a new one will be eligible for a subsidy of up to 20,000 yuan (approximately $2,750 USD). Those trading in an existing vehicle for a new one can receive a subsidy of up to 15,000 yuan (approximately $2,060 USD).

The subsidies for home appliances and digital products vary. Buyers of eligible appliances, including refrigerators, washing machines, televisions, air conditioners, computers, and water heaters, can receive subsidies of up to 1,500 yuan (approximately $206 USD). For smartphones, tablets, smartwatches, and similar digital devices, the subsidy is capped at 500 yuan (approximately $69 USD).

In addition to vehicle and appliance trade-ins, the province plans to implement measures to enhance service consumption. These include promoting high-quality development in living services such as accommodation, domestic help, childcare, and elderly care. Efforts will also be made to integrate exhibitions with commerce, tourism, culture, and sports to expand consumption across the automotive supply chain and support cross-border e-commerce activities.