A consumer (right) learns about trade-in plans for home appliances at a store in Chongqing in July 2024. - Photo for China Daily
BEIJING: China's consumer goods trade-in programme has generated 1.1 trillion yuan (about US$153.1 billion) in sales in the first five months this year, the Ministry of Commerce said on Sunday (June 1).
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 programme, 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 per cent year-on-year in the first four months of 2025, accelerating from the 4.6-per cent growth recorded in the first quarter of the year, official data revealed. - Xinhua/ANN
