China's consumer goods trade-in programs generate sales of over 500B yuan this year

People shop for smartphones and other consumer electronics eligible for the Chinese government's trade-in subsidies at a retailer in Zaozhuang, east China's Shandong Province, Feb. 21, 2026. [Photo/Xinhua] 

China's government-backed consumer goods trade-in programs in 2026 had resulted in sales of 502.94 billion yuan (about 73.33 billion U.S. dollars) as of April 12, benefiting nearly 69.78 million purchases, according to data released by the Ministry of Commerce on Wednesday.

Auto trade-ins since the beginning of this year have surpassed 1.67 million units, driving new vehicle sales of more than 269.44 billion yuan, the data showed.

Under these trade-in programs, over 27 million units of home appliances were traded in during this period, generating sales of 111.09 billion yuan.

A total of 41.08 million units of digital and smart products were sold under these programs, producing sales of 122.41 billion yuan, the ministry noted.

These robust trade-in sales were achieved at a time when Chinese authorities announced the renewal of the trade-in subsidy program for consumer goods in 2026, forming part of broader efforts to boost consumption.

In 2025, the consumer goods trade-in programs benefited 366 million purchases, creating product sales worth a total of 2.61 trillion yuan.