China's consumer goods trade-in program spurs 1.1 trillion yuan in sales
Xinhua, June 10, 2025 Adjust font size:
China's consumer goods trade-in program has generated 1.1 trillion yuan (about 153.1 billion U.S. dollars) 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.
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.
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. ■