Hey tech lovers and smart shoppers! Exciting news from the Chinese mainland as it boosts its consumer goods trade-in program with 300 billion yuan in treasury bonds for 2025. This means more cash backing to swap out old gadgets, home appliances, and even vehicles for the latest, energy-efficient models. 🚀
With half the annual subsidy budget already in play, local authorities are matching funds on a 9:1 ratio, fueling a surge in sales across smart devices, household appliances, and electric bicycles. In cities like Beijing, brands like Oppo report that trade-ins make up over half of daily sales, highlighting how this initiative is reshaping consumer habits on the go. 📈
Not just that, innovative moves in regions such as Shandong, Shanghai, Yunnan, Shaanxi, and Sichuan are making the process smoother—whether it’s simplifying car trade-ins or expanding subsidy coverage to smart and elderly-friendly home appliances (with rewards up to 15% of the final price, capped at 2,000 yuan).
Experts from institutions like Nankai University and Peking University are thrilled, noting that the program not only spikes immediate sales but also sparks product upgrades and a shift toward greener, energy-efficient options. This steady funding and enhanced policy mix is set to unlock more consumer potential and drive sustainable growth for the future. 🌱
Reference(s):
China pledges continued funding for consumer goods trade-in subsidies
cgtn.com
