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Over 20 million Chinese applied for electronics trade-in subsidies, boosting mobile phone sales by 74% before the Spring Festival. The government offers up to 500 yuan per device to spur consumption.
China’s home appliance sales hit a record 1.03 trillion yuan in 2024, boosted by a government-backed trade-in program that encouraged millions to upgrade their appliances.
China unveils new measures to expand its “old-for-new” exchange program and equipment renewal policies for 2025, aiming to stimulate consumer spending and industrial upgrades.
China is expanding its consumer goods trade-in program in 2025, adding new subsidies and products to encourage spending and drive economic growth.
China’s government-led trade-in program is fueling a green revolution, encouraging consumers to swap old products for eco-friendly alternatives, boosting sustainable development.