China’s extensive trade-in program for consumer goods in 2025 generated more than 2.6 trillion yuan (about 368 billion U.S. dollars) in sales, and involved over 360 million consumer purchases, providing fresh momentum for consumption, industrial upgrading and green transition.

According to data released from the Ministry of Commerce on Thursday, the program saw over 11.5 million vehicles traded in nationwide, along with the replacement of more than 129 million home appliances.

The initiative also facilitated the sale of 91 million new mobile phones and other digital products, as well as over 120 million units of home decor products, kitchenware and bathroom items.

Additionally, trade-ins of electric bicycles topped 12.5 million units, data showed.

The program has notably advanced China's green transition.

In vehicle trade-ins, new energy vehicles accounted for nearly 60 percent, helping the retail market share of new energy passenger vehicles remain above 50 percent for nine consecutive months, reaching 59.4 percent in November.

For home appliances, over 90 percent of trade-in sales were comprised of top-tier energy- or water-efficient products, while sales of communications equipment experienced growth for 11 straight months.

More importantly, as e-commerce continues to thrive, the program has encouraged more consumers to choose in-store shopping to experience products firsthand and access subsidies. This shift has driven increased spending in dining, entertainment, and other services.

Data showed that in commercial areas with a high concentration of home appliance trade-in stores, consumer spending by nearby merchants within a 1-kilometer radius rose by more than 30 percent, according to data provided by relevant institutions.