China’s Consumer Goods Trade-In Scheme Tops 500 Billion Yuan in Sales by Mid-April 2026

BEIJING, April 15 — China’s nationwide consumer goods trade-in initiative has continued to drive robust consumption growth, with cumulative sales reaching 502.94 billion yuan (around 73.3 billion U.S. dollars) as of April 12, 2026, according to official data released by the Ministry of Commerce (MOFCOM). The scheme has benefited 69.78 million consumers, underscoring its effectiveness in stimulating market demand and upgrading household consumption.

According to MOFCOM’s commercial big data monitoring, the trade-in programme covers automobiles, home appliances, and digital & smart products, with each sector posting strong performance. Automobile trade-ins led the growth, exceeding 1.67 million units and generating new vehicle sales of over 269.44 billion yuan. This includes 472,000 scrappage upgrades worth 60.69 billion yuan and 1.198 million replacement updates accounting for 208.75 billion yuan in sales.

Home appliance trade-ins reached 27.023 million units, contributing 111.09 billion yuan to total sales. Meanwhile, purchases of new digital and smart products totalled 41.084 million items, with sales hitting 122.41 billion yuan. The data reflects strong consumer appetite for energy-efficient appliances and cutting-edge electronic devices amid the government’s push for green and intelligent consumption.

Launched in early 2026, the trade-in policy is part of broader efforts by MOFCOM and seven other central departments to boost domestic consumption and upgrade industrial supply. The programme offers targeted subsidies for vehicle scrappage, appliance replacement, and digital product upgrades, with simplified application processes and expanded coverage to maximise participation.

Industry analysts note that the policy has not only unlocked pent-up consumer demand but also accelerated the replacement of outdated goods, supporting the development of high-quality manufacturing and green industries. The strong uptake across all categories demonstrates the scheme’s role in stabilising economic growth and improving living standards.

MOFCOM stated it will continue to optimise policy implementation, strengthen cross-departmental coordination, and guide local authorities to roll out supporting measures. Efforts will focus on expanding subsidy coverage, streamlining approval procedures, and promoting the sale of green, low-carbon, and intelligent products to sustain consumption momentum.

As of early April, the trade-in scheme has maintained strong momentum, with monthly sales growth remaining steady. The latest figures mark a significant increase from the first-quarter sales of 433.17 billion yuan reported earlier, indicating sustained consumer confidence and policy effectiveness.

With the peak consumption season approaching, MOFCOM expects the trade-in programme to continue driving sales growth in the second quarter, further consolidating the recovery of the consumer market and supporting stable economic performance throughout 2026.