According to a joint announcement by the National Development and Reform Commission and the Ministry of Finance on October 31, the final round of the national "trade-in" subsidy for consumer goods (fourth batch) officially commenced on November 1. The total subsidy amount for this round is RMB 69 billion, with a unified nationwide deadline of 24:00 on December 31, 2025—no extensions or retroactive payments will be granted. This marks the concluding batch of the year's RMB 300 billion ultra-long-term special treasury bond funds and represents the "final chapter" of central government subsidies for conventional product categories. Starting in 2026, the policy will be fully phased out, transitioning to a locally funded model, meaning missing this opportunity could entail waiting at least another year, with uncertain subsidy levels and coverage.

Key Participation Methods: - For home appliances and furniture subsidies: Search "家电900" on the JD.com app for discounts up to RMB 2,000. - For mobile phones and digital products: Search "数码900" or "手机900" on the JD.com app for subsidies up to RMB 500. - For all-category red packets: Search "红包900" on the JD.com app—daily red packets up to RMB 1,888 available.

Fund Utilization Warning: As of mid-November, over 80% of the national funds have been utilized, with daily consumption averaging RMB 2.3 billion. High-consumption provinces like Henan, Shandong, Jiangsu, Guangdong, and Hunan have entered a "red alert" status, with new eligibility expected to close by mid-December. Some regions are experiencing "minute-level" quota exhaustion.

Subsidy Coverage and Details: The subsidy spans six categories—home appliances, furniture, mobile phones, digital products, automobiles, and building materials—with subsidies up to 15% of the purchase price: - Home appliances/furniture: Up to RMB 2,000 off. - Mobile phones/digital products: Up to RMB 500 subsidy. - Automobile trade-ins: Up to RMB 20,000 subsidy. Subsidies can be combined with platform red packets, store coupons, and bank card discounts. During the Double 11 re-run period, some households could save up to RMB 18,000 per transaction.

Simplified Application Process: Eligibility thresholds have been significantly lowered, adopting a "voucher-based" model without complex approvals. Vouchers must be used within 48 hours of issuance. Ministry of Commerce data shows a success rate exceeding 85% in October.

Key Platforms: - JD.com (primary platform): Search specific keywords for quick access. - Other platforms like Taobao also offer application channels.

Golden Application Period and Strategies: November 15 to December 15 is the optimal window. Regional strategies vary: - Fast-depleting regions (e.g., Shandong, Henan): Apply at quota release times (typically on the hour). - Lottery regions (e.g., Shanghai, Anhui): Register early and monitor results. - Time-slot regions (e.g., Hubei, Ningxia): Try off-peak hours for remaining quotas.

Critical Reminders: - Some provinces re-release unused quotas daily—use vouchers within 24 hours to avoid expiration. - Hotspots may close applications by late November—act promptly. - Verify all details via official NDRC, Ministry of Finance, or platform announcements.

The 2025 national subsidy policy is now in its final 60-day countdown. Missing this "last policy train" means no further opportunities. Consumers are urged to seize the remaining window and secure subsidies via designated platforms.