China's consumer goods trade-in program spurs 1.1 trillion yuan in sales

Visitors try specialties of Harbin at the 5th China International Consumer Products Expo (CICPE) in Haikou, south China's Hainan Province, April 16, 2025. [Photo/Xinhua]

China's consumer goods trade-in program has generated 1.1 trillion yuan (about $153.1 billion) 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.