China earmarks funding to boost consumer goods trade-ins

China has allocated the third batch of ultra-long special treasury bonds in 2026 to support its consumer goods trade-in programs, the National Development and Reform Commission (NDRC) said on Friday.

Worth 62.5 billion yuan (about 9.2 billion U.S. dollars), the bonds were jointly issued by the NDRC and the Ministry of Finance to local governments.

The country's consumer goods trade-in programs have made steady progress since the beginning of this year. As of June 20, total sales generated by the programs had exceeded 1 trillion yuan, benefiting 136 million purchases nationwide.

Official data also indicate that the programs have helped unlock the potential of green and smart consumption, as reflected in products such as energy-efficient home appliances, new energy vehicles and smart glasses.

Looking ahead, relevant authorities will continue to guide local governments to use the funding at a steady pace, so that it can play a more effective role, according to the NDRC. ■