Official data shows that China's consumer goods trade-in policy has generated significant economic activity in the first six months of the year.

According to information released by the Ministry of Commerce, the program has cumulatively driven sales of related goods totaling 1.1 trillion yuan, benefiting approximately 150 million consumers.

The initiative has facilitated the trade-in of 3.707 million motor vehicles and 63.266 million home appliances.

Additionally, sales of digital and smart devices reached 79.098 million units, while 19 local regions implemented their own subsidy programs for specific product categories, stimulating sales of 992,000 related items.

Key Trends in Consumer Preferences

One significant trend is the growing popularity of green and energy-efficient products.

Driven by the policy incentives, a rising number of consumers are opting for new energy vehicles, accelerating the market's shift towards electrification.

The proportion of new energy vehicles receiving trade-in subsidies has been increasing, reaching 65.4% in June, which helped the retail market penetration rate for new energy vehicles reach a record high in the second quarter.

Rapid Expansion of Smart Consumption

Another notable development is the rapid expansion of smart consumption.

From January to June, sales of digital and smart products grew by 13.4% year-on-year, with the month of June alone seeing a 32% increase.

Since the policy's implementation, sales of smart eyewear have accelerated month-on-month, rising 30.6% in June and emerging as a new focal point for smart consumption.

Spurring New Industry Development

The policy is also fostering the growth of new industries.

The 2026 iteration of the trade-in program grants local authorities more autonomy, allowing eligible regions to implement tailored subsidy schemes based on local conditions.

Regions such as Jiangsu and Shanghai have included cutting-edge smart products like embodied intelligent robots in their subsidy programs, catering to consumer demand for novel products and creating market opportunities for new technologies, industries, and sectors.

The Ministry of Commerce also noted that the policy's reach is continuously expanding, with a 28.1% year-on-year increase in the number of offline participating entities, further energizing county and township markets.

For example, in Fujian, the number of offline stores in counties and towns participating in home appliance trade-ins grew by 15% compared to the start of the year.

In collaboration with the Ministry of Industry and Information Technology, the Ministry of Commerce has organized promotional activities for new energy vehicles in rural areas, increasing the supply of suitable models, ensuring subsidy availability, and improving charging infrastructure and after-sales service networks to sustainably unlock the automotive consumption potential in these markets.