China’s policy-backed trade-in programme generated more than 2.6 trillion yuan in consumer goods sales in 2025, according to the Ministry of Commerce.
The initiative benefited more than 360 million consumers across the country.
Purchases under the scheme included over 11.5 million vehicles, 129 million home appliances and 91 million digital products.
Consumers also bought 120 million home decoration, kitchen and bathroom items, alongside 12.5 million electric bicycles.
In the first 11 months of 2025, retail sales of consumer goods rose 4% year on year.
The trade-in programme contributed more than one percentage point to overall retail growth.
The initiative accelerated industrial upgrading and supported China’s green transition goals.
New energy vehicles made up nearly 60% of all vehicle trade-ins during the year.
Retail market share for new energy passenger vehicles exceeded 50% for nine consecutive months.
Recycling volumes of scrapped vehicles rose 24.5% year on year in 2025.
Authorities said the programme enabled the recycling of millions of tonnes of steel and non-ferrous metals.
Carbon emissions were reduced by an estimated 24.5 million tonnes as a result.
The government confirmed the trade-in subsidy scheme will be renewed in 2026 to further boost consumption.