The Art of Governance: How China is turning trade-ins into economic momentum #CGTN
The Art of Governance: How China is turning trade-ins into economic momentum
China is stimulating both economic growth and its green transformation through a nationwide consumer goods trade-in program. Launched in 2024, the initiative offers subsidies to incentivize consumers to replace old appliances and vehicles with energy-efficient alternatives. In its first two years, the program generated 3.92 trillion yuan (around $540 billion) in sales and benefited consumers on 494 million occasions.
The policy is also shaping greener choices: in the first 10 months of 2025 alone, over 10 million car trade-in applications were submitted, with New Energy Vehicles (NEVs) accounting for 57.2%, signaling a shift toward low-carbon mobility.
By recycling old products and feeding recovered materials back into manufacturing, the program fosters the high-quality development of a circular economy. In linking consumer spending with sustainability, China is showing how smart policy can drive demand while advancing greener growth.
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