China's trade‑in programme boosted consumption by 1.1 trillion yuan in six months
Government consumer goods trade‑in programmes generated 1.1 trillion yuan ($162 billion) in the first half of 2026, benefiting 150 million consumers. From January to June, 3.7 million vehicles and 63.3 million home appliances were traded in, while 79.1 million digital and smart products were purchased. Nineteen provincial‑level regions have introduced autonomous subsidies.
The share of NEVs in the programme rose to 65.4% in June, pushing the NEV penetration rate to a record 62.4% in Q2. Sales of digital and smart goods grew 13.4% year‑on‑year, with smart glasses emerging as a new growth driver (+30.6% in June).
Subsidy programmes now include AI‑enabled robots, opening new market niches. The number of participating offline stores rose 28.1%, boosting rural markets. In Fujian, such stores increased by 15%. Campaigns to promote NEVs in rural areas are being rolled out. As CCTV+ reports. The programme continues to expand, driving the shift towards greener and smarter consumption across China.
