China's national trade-in initiative has revitalized consumer markets, generating 3.92 trillion yuan ($561 billion) in sales while accelerating the shift toward sustainable consumption, officials announced this week. The program, which began in 2024, has now reached 494 million participants across the Chinese mainland.
At a State Council press conference on January 6, Vice Commerce Minister Sheng Qiuping revealed that 18.3 million vehicles were replaced through the initiative from 2024 to 2025, with new energy vehicles constituting 60% of transactions. "This policy demonstrates our commitment to both economic vitality and environmental responsibility," Sheng stated.
The figures highlight China's dual focus on stimulating domestic demand and meeting carbon reduction targets. Analysts note the program's success in modernizing household appliances and transportation fleets while creating ripple effects across manufacturing sectors.
With the initiative now entering its third year, authorities are expanding incentives for green home renovations and energy-efficient appliances. This strategic approach positions consumer spending as a key driver of China's 2026 economic growth projections.
