China is ushering in the 2025 Spring Festival with a surge in consumer spending, bolstered by successful trade-in programs and government initiatives to ensure ample market supply during the festive season.
On Friday, the State Council Information Office (SCIO) held a press conference highlighting the measures taken to promote consumption and secure market stability during the Spring Festival. This year's celebration holds special significance as it marks the first Spring Festival since the Chinese New Year was added to UNESCO's list of Intangible Cultural Heritage of Humanity and New Year's Eve was designated a legal holiday.
\"The inclusion of the Chinese New Year in the UNESCO list has renewed global interest in our traditions,\" said Sheng Qiuping, Vice Minister of Commerce. \"We are committed to ensuring that the festivities are supported by a robust market supply and enhanced consumer experiences.\"
As the lead agency implementing consumer goods trade-in programs, the Ministry of Commerce has introduced a series of measures delivering tangible benefits to consumers. According to the briefing, as of January 23, over 1 million units of home appliances have been purchased through the nation's trade-in program in 2025.
\"The remarkable success of the trade-in program not only stimulates consumption but also encourages the adoption of energy-efficient and smart home appliances,\" Sheng Qiuping noted. \"This aligns with our goals of promoting sustainable development and improving the quality of life for residents.\"
The trade-in initiatives have been met with enthusiasm across the country, providing consumers with incentives to upgrade their household appliances ahead of the holiday season. Retailers have reported increased sales, and the program is expected to continue driving consumption growth throughout the festival period.
In addition to trade-in programs, local authorities have been working to ensure that markets are well-stocked with essential goods. Enhanced logistics and distribution efforts aim to meet the heightened demand typical of the Spring Festival, the most significant traditional holiday in China.
The combination of cultural celebration and economic stimulus reflects China's commitment to boosting domestic consumption and supporting economic growth. As families gather to welcome the Year of the Snake, the government's initiatives are set to make this Spring Festival a prosperous and joyful occasion for all.
Reference(s):
China guarantees market supply and boosts holiday consumption
cgtn.com
