As of February 23, the 2026 consumer trade-in program has benefited 311.27 million person-times and generated sales of 207.03 billion yuan, according to the Ministry of Commerce. Strong demand was observed for smart and green products. During the Spring Festival holiday this year, sales of smart glasses and embodied intelligent robots on major platforms increased by 47.3% and 32.7%, respectively, compared to the previous year. Sales of water-saving sanitary ware and organic food rose by 23.2% and 26.5%.

An expert commented on the positive performance of the trade-in policy this year, noting two core highlights in its implementation. The first is a dual breakthrough in both scale and quality. The policy has benefited over 300 million person-times and driven sales exceeding 200 billion yuan, indicating that trade-in initiatives are becoming widespread and an effective mechanism for major consumer purchases. More importantly, significant sales growth in categories such as smart glasses and water-saving sanitary ware shows that the policy's benefits are precisely flowing into areas representing future consumption trends, effectively guiding a shift in consumer preference from "basic ownership" to "quality upgrading."

The second highlight is the policy's role in fostering a positive cycle between demand and supply. The large-scale market demand for replacements provides clear innovation signals for upstream manufacturing. Companies are no longer relying solely on price competition but are responding to the policy and competing for market share by developing more energy-efficient and intelligent products. This mechanism acts as a catalyst, driving industrial structure towards the mid-to-high end and achieving synergy between consumption and industry.

The effectiveness of the consumer trade-in policy was also demonstrated last year. In a previous press conference, data showed that the intensified implementation of the trade-in policy in 2025 generated sales of related goods worth 2.61 trillion yuan, benefiting 366 million person-times. A large number of green and smart products entered households, with auto sales reaching 344 million units, and sales of home appliances and communication equipment each exceeding one trillion yuan.

Policy support continues to intensify. In early 2026, the first batch of national subsidy funds totaling 62.5 billion yuan was allocated to local commerce departments. During the nine-day Spring Festival holiday, authorities guided regions to increase subsidy distribution to ensure consumers could apply for subsidies as required. Financial regulators have also urged institutions to boost personal consumer loan issuance, set reasonable loan ratios, terms, and interest rates, and actively support trade-ins for durable goods like automobiles, home appliances, and home furnishings.

For the full year, the consumer trade-in program is expected to remain a key tool for expanding and improving goods consumption and stabilizing the fundamental consumption market. Authorities have stated that the implementation of the trade-in policy will be optimized in 2026, including pilot reforms in auto circulation and consumption to expand the entire automotive consumption chain and promote spending on home appliances and furnishings.

As the policy is further implemented, its impact on the industrial sector is expected to deepen. Sustained replacement demand will pressure companies to establish more efficient reverse logistics systems and recycling networks, fostering new business models in the circular economy. Furthermore, by linking policy benefits to energy efficiency and smart standards, the policy effectively raises industry entry barriers and technical thresholds, incentivizing firms to focus on core technological innovation and brand building. This pushes Chinese manufacturing from scale expansion to intensive growth, steadily enhancing its position in the global value chain.