Over the course of the 9-day Spring Festival holiday in 2026, an impressive total of 5.106 million products were purchased through trade-in schemes covering six categories of home appliances, as well as subsidy initiatives for four categories of new digital and smart product acquisitions. This represents a notable 21.7% increase compared to the previous year. Notably, smart glasses were incorporated into the subsidy program for new purchases for the first time, sparking a substantial surge in both inquiries and actual purchases of digital products across numerous regions. The consumption landscape has undergone optimization and enhancement, with mid-to-high-end mobile phones constituting 65.0% of total sales. Additionally, the average reimbursement amount for certain products has seen an uptick. As of February 22, the trade-in programs for consumer goods have already benefited 30.532 million individuals, propelling sales to RMB 204.54 billion. There remains a robust and sustained demand for smart and eco-friendly products. In a bid to further stimulate consumer spending, nine departments, including the Ministry of Commerce, have rolled out pertinent activity plans. Meanwhile, the National Development and Reform Commission and the Ministry of Finance have also unveiled policies aimed at facilitating equipment renewal and trade-in programs for consumer goods. The subsidy approach for automotive trade-ins has been refined, and government subsidy programs for digital home appliances continue to make steady progress.