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According to the latest figures released by the Ministry of Commerce, as of October 28, the 2026 trade-in program has collectively spurred sales of relevant products to surpass RMB 2 trillion, reaching a beneficiary base of over 257 million individuals, showcasing remarkable outcomes. Regarding consumption enhancement, sales of subsidized digital gadgets, including smartphones and tablets, witnessed a 44.8% year-on-year uptick, propelling a 18.1% increase in retail sales of communication devices during the first three quarters. Concurrently, the initiative has steered the industry towards eco-friendly and smart advancements, with electric vehicles benefiting from the trade-in scheme constituting 60.5% of the total, and the retail market share of new energy passenger cars surpassing 60% for six successive months.
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