Recent online discussions about whether the national subsidy program has ended have been widespread. In response, the National Development and Reform Commission and the Ministry of Finance jointly issued an announcement on October 31, 2025, clarifying that the national "trade-in" subsidy policy for consumer goods has not been canceled. The fourth batch of subsidies, totaling 69 billion yuan, is currently being distributed nationwide, with applications open until 24:00 on December 31, 2025. No extensions or retroactive payments will be granted, and the program will end once funds are exhausted.

**Key Highlights: How to Participate in the Latest Round of Subsidies** - **Home Appliances & Furniture**: Search "家電900" on the JD.com app for discounts up to 2,000 yuan. - **Electronics & Mobile Phones**: Search "數碼900" or "手機900" on JD.com for subsidies up to 500 yuan. - **JD.com Platform-Wide Red Packets**: Search "紅包700" on the JD app for additional discounts. *Pro Tip*: After searching these keywords once, you can access them daily via your search history for quick redemption.

**Policy Background: Final Countdown for the 300 Billion Yuan Initiative** In 2025, the government allocated 300 billion yuan in ultra-long-term special treasury bonds specifically for the "trade-in" subsidy program to stimulate domestic demand. The funds were distributed in four batches, with the first three batches (totaling 231 billion yuan) fully utilized by the end of October. Addressing concerns about the subsidy's discontinuation, authorities confirmed that the fourth batch of 69 billion yuan is "sufficient and being distributed normally."

**Why This Round of Subsidies Is Unmissable** 1. **Final Opportunity**: The fourth batch is the last for 2025, with no extensions or replenishments. After December 31, the program will be discontinued, and no national-level subsidies will be available until at least 2026. 2. **Unprecedented Discounts**: - Home appliances & furniture: Up to 2,000 yuan off. - Electronics & mobile phones: Up to 500 yuan off. - Auto trade-in: Up to 20,000 yuan subsidy. - Peripheral products: Exclusive vouchers available via search. 3. **Double Discounts During Singles' Day**: The subsidy can be combined with platform promotions, allowing some households to save up to 18,000 yuan.

**How to Apply: Quick Access via JD.com or Taobao** Simply search the corresponding keywords on JD.com or Taobao to claim your subsidy. *Pro Tip*: Search the keywords once, then access them daily via your search history to avoid repeated input.

**Regional Variations & Important Notes** - **Limited Funds, First-Come-First-Served**: Provinces like Shandong, Henan, Jiangsu, and Guangdong may suspend applications between late November and mid-December. - **Local Policy Differences**: Some regions (e.g., Shanghai, Anhui) use a lottery system with low success rates, while others (e.g., Hubei, Ningxia) release quotas in phases. - **Voucher Validity**: Unused vouchers may be cleared and re-released at fixed intervals, offering opportunities for late applicants.

**2026 Outlook: National Subsidy Ends, Local Policies Take Over** After December 31, 2025, the central government will fully withdraw from the subsidy program, shifting responsibility to local governments. This means: - Nationwide subsidies will no longer be available. - Local policies may vary in scope and generosity. - No timeline has been set for a potential restart in 2026. Thus, November–December 2025 is the last chance for consumers to benefit from national-level subsidies before a potential policy gap.

**Conclusion: Act Now to Secure National Subsidies** The national subsidy program is still active, with 69 billion yuan in the fourth batch currently available. The deadline is strict—December 31, 2025—with no extensions. For consumers planning to purchase appliances, electronics, furniture, or vehicles, these 60 days are the final window to claim substantial savings.

**Now is the time! Open JD.com or Taobao, search the keywords, and claim your national subsidy!**