- China’s trade-in program generated 502.94 billion yuan (~US$74 billion) in sales
- Almost 70 million purchases were supported through subsidy-driven incentives
- Digital products accounted for the largest share of units sold
China has released new figures for its government-backed consumer goods trade initiative, and the numbers are significant.
According to the Ministry of Trade, the scheme per April 12, 2026 generated total sales of 502.94 billion yuan (~US$74 billion) and benefited nearly 69.78 million individual purchases.
Within these totals, digital and smart products accounted for 41.08 million units sold, producing 122.41 billion yuan (~$18 billion) in revenue.
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Trade-in for household appliances leads the way
Home appliance trade-in reached over 27 million units with sales of 111.09 billion yuan (~$16 billion), while auto trade-in exceeded 1.67 million units, leading to new vehicle sales of more than 269.44 billion yuan (~$40 billion).
The 2026 performance becomes more meaningful when placed alongside past data.
Throughout 2025, consumer goods trade-in programs benefited 366 million purchases and generated product sales worth a total of 2.61 trillion yuan (~$383 billion).
By the end of May 2025, the program had already increased sales of five key categories of consumer goods to 1.1 trillion yuan (~$161 billion), with about 175 million subsidy payments issued directly to consumers.
The 2025 effort was supported by 300 billion yuan (~$59 billion) in ultra-long special government bonds, double the amount allocated in 2024.
For 2026, the government plans to allocate a total of 250 billion yuan (~$37 billion) in such bonds, with 62.5 billion yuan (~$9 billion) already distributed as a second batch of funding in April 2026.
Sales figures for 2026, while impressive at over half a trillion yuan in just over three months, are still following the annual pace set in 2025.
However, direct comparisons remain complicated because the program expands its product coverage every year.
China’s incentive-driven model contrasts with the EU’s framework under the WEEE Directive.
The EU focuses on producer responsibility for the collection and treatment of old electronic consumer goods.
But in Moldova, the EcoVoucher program gives €305 ($358) vouchers to vulnerable households when they return old appliances for replacement.
The scheme covers up to 70% of the cost of a new fridge or washing machine, ensuring that recycling directly lowers barriers to purchase.
More than 40,000 appliances have already been replaced, providing energy savings of over €1.22 million ($1.4 million) while accelerating the removal of inefficient units.
India also has a similar Production Linked Incentive scheme, which has paid out 28,748 crore rupees ($3.46 billion) since 2021 to support electronics production and upgrades.
The goals of these schemes differ, but experts have noted that China’s model is driving product upgrades and industrial transformation.
Via News.cn
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