Published: 16:37, June 1, 2025
China's consumer goods trade-in program spurs 1.1 trillion yuan in sales
By Xinhua

A consumer (right) learns about trade-in plans for home appliances at a store in Chongqing in July 2024. (SUN KAIFANG / FOR CHINA DAILY)

BEIJING - China's consumer goods trade-in program has generated 1.1 trillion yuan (about $153.1 billion) in sales in the first five months this year, the Ministry of Commerce said on Sunday.

As of Saturday, nationwide trade-ins had fueled a surge in transactions, including 4.12 million vehicles, 77.62 million units of household appliances and 56.63 million units of digital products -- such as mobile phones, among others, data from the ministry showed.

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The program, part of China's broader efforts to spur domestic demand, has boosted a sustained recovery in the country's consumer spending, according to the ministry.

In the government work report released in March 2025, boosting consumption was listed as a top priority among this year's tasks.

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Retail sales of consumer goods, a major indicator of the country's consumption strength, rose 4.7 percent year-on-year in the first four months of 2025, accelerating from the 4.6-percent growth recorded in the first quarter of the year, official data revealed.