China's pro-consumption policies in full swing

China's pro-consumption policies in full swing

Chinese consumers have benefited from the country's pro-consumption policies, which cover goods such as mobile phones, home appliances and automobiles, said the Ministry of Commerce on Thursday.

As of Wednesday, 169,000

vehicles were scrapped and recycled and 647,000 electric bicycles were traded in for new models nationwide this year under the country's consumer goods trade-in program, said He Yadong, a spokesperson for the ministry, at a press conference.

More than 3.97 million consumers purchased over 4.87 million home appliance units during the same period, said the spokesperson.

From Jan. 20 to Feb. 19, 26.71 million consumers applied for subsidies to purchase new mobile phones, tablets and smartwatches.

Driven by the pro-consumption policies, related industries have maintained a strong growth momentum.

Since the beginning of this year, the nationwide vehicle scrapping volume has increased by around 35 percent compared to the same period last year, while the retail sales of new energy passenger vehicles have risen by over 20 percent year on year, He said.

China announced in early January a raft of measures to expand the scope of the consumer goods trade-in program amid efforts to boost domestic demand and spur economic growth.

Under the expanded program, categories of home appliances eligible for government subsidies have been increased from eight in 2024 to 12 in 2025.

Consumers can also enjoy subsidies of up to 500 yuan (about 69.72 U.S. dollars) apiece while purchasing digital products such as mobile phones.