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The Ministry of Finance has announced that the national subsidy program for exchanging old consumer goods for new ones will persist into 2026, with enhancements to the subsidy scope and criteria building upon the framework established in 2025. Over the past two years, the impact of these national subsidies has been profound. This year, Suning.com has reported that over 70% of its sales stem from transactions involving trade-ins, reflecting a consumer shift towards environmentally friendly, smart, and premium home appliances. Firms like Jingke Electronics and Bosch Home Appliances have also highlighted that the national subsidies have significantly elevated the sales share of their mid-to-high-end product lines, fostering an upgrade in the market's consumption patterns and spurring industrial innovation.
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