China's consumer goods trade-in programs generate sales of 5 trillion yuan
Source: Xinhua | 2026-06-24 | Editor:Evan
China's government-backed consumer goods trade-in programs had generated 5 trillion yuan (about 733.45 billion U.S. dollars) in sales as of June 22 this year, totaling nearly 630 million purchases, official data showed on Tuesday.
Of the 5-trillion-yuan total, automobile trade-ins accounted for 63 percent, Yang Mu, an official with the Ministry of Commerce, said at a press conference.
Since the automobile trade-in policy took effect over two years ago, it has supported more than 21 million car buyers in swapping their old vehicles for new ones, with an average subsidy of 14,000 yuan per vehicle, said Yang.
In March 2024, the consumer goods trade-in program was incorporated into a State Council action plan.
Chinese authorities have announced the renewal of the trade-in subsidy program for consumer goods in 2026 as part of broader efforts to boost consumption, with 62.5 billion yuan in ultra-long special treasury bond funds allocated in advance to support this year's program.
You May Like
-
Hungary hopes to expand cooperation with China, says chamber...
Chinese investment in Hungary has increased significantly in recent years, particularly in the electric vehicle and battery sectors, "contributing to the develo...
InKunming 2026-06-22 -
China's consumer market steady during Dragon Boat Festival h...
China's consumer market maintained stable operation during the Dragon Boat Festival holiday, with sufficient supply and stable prices of daily necessities, th...
InKunming 2026-06-22 -
Dragon Boat Festival heritage fuels tourism, cultural spendi...
From early Friday morning, waterways crisscrossing Chinese cities, towns and villages have been reverberating with the rhythmic splash of paddles and the beat o...
InKunming 2026-06-20 -
Nepal foreign minister looks to AI partnership opportunity w...
Speaking highly of China's rapid advances in AI, Nepalese Foreign Minister Shisir Khanal said Nepal looks forward to exploring new opportunities with China in p...
InKunming 2026-06-20 -
Xinhua Headlines: Hainan FTP construction gains further stea...
About a week ago, Co+Nut+Ink, a renowned Singaporean dessert brand, opened its first China store in Haikou, capital of south China's island province of Hainan...
InKunming 2026-06-20 -
China's Duanwu Festival Tradition: Dragon Boat Racing
The Dragon Boat Festival, or Duanwu, falls on the 5th day of the 5th lunar month (June 19 this year).
InKunming 2026-06-19 -
China's action on global governance draws praise
China's latest white paper on global governance shows its commitment to multilateralism and to building a more just, equitable and inclusive global governance s...
InKunming 2026-06-19 -
China Focus: China calls for unity, confidence, action to im...
China on Wednesday called for more unity, confidence, and concrete action from the international community to improve global governance.
InKunming 2026-06-18 -
China expects 83m railway trips during Dragon Boat Festival ...
China's railway network is forecast to handle about 83 million passenger trips during the five-day travel surge around the Dragon Boat Festival holiday, the nat...
InKunming 2026-06-18 -
China's Long March-12 rocket launches new internet satellite...
China launched a Long March-12 carrier rocket on Wednesday from a commercial spacecraft launch site in the southern island province of Hainan, sending an inte...
InKunming 2026-06-18
