China’s nationwide trade-in initiative generated 3.92 trillion yuan ($562 billion) in consumer goods sales between 2024 and 2025, according to Vice Minister of Commerce Sheng Qiuping. The program, designed to stimulate sustainable consumption and industrial upgrades, reached 494 million consumers during this period.
Notably, 18.3 million vehicles were replaced under the policy, with new energy vehicles (NEVs) constituting nearly 60% of total trade-ins. This shift aligns with China’s broader carbon neutrality goals and reflects growing consumer confidence in green technologies.
The initiative also drove the replacement of 192 million home appliances, accelerating demand for energy-efficient models. Analysts suggest these figures underscore the policy’s dual success in boosting domestic consumption while advancing environmental objectives.
As of 2026, the program’s legacy continues to influence manufacturing strategies across the Chinese mainland, with industries prioritizing circular economy models and smart appliance development.
