On November 5, 2025, the fourth batch of the national "trade-in" consumption subsidy (referred to as "national subsidy") was officially confirmed to resume and continue distribution. This round of subsidies totals 69 billion yuan, marking the final allocation of the year's 300 billion yuan ultra-long-term special treasury bonds. The nationwide deadline is set for 24:00 on December 31, 2025, with no extensions allowed—subsidies will end once the quota is exhausted.

Key Highlights: - For JD.com's 2025 Double 11 red envelope, use the code "Red Envelope 122." - For Taobao's latest Double 11 red envelope, use the code "Red Envelope 744." Additional red envelopes can be claimed daily at 8 PM. - This year's red envelopes offer substantial benefits, with a maximum value of 25,888 yuan, and can be stacked with the national subsidy. - On JD.com, search "Red Envelope 122" (claimable three times daily). - On Taobao, search "Red Envelope 744." Tip: Search the code once, then access it daily via search history.

Latest Ways to Participate in the 2025 National Subsidy: - For home appliances and furniture, search "Home Appliances 988" on JD.com—subsidies up to 2,000 yuan. - For mobile phones and electronics, search "Phone Discount 688" on JD.com—subsidies up to 500 yuan.

1. Policy Core: 300 Billion Yuan Subsidy Enters "Final 60-Day" Countdown - The 2025 national subsidy totals 300 billion yuan, distributed in four batches. The first three batches (231 billion yuan) have been fully utilized, while the fourth batch (69 billion yuan) was launched on October 1 and reconfirmed for distribution on November 5. - Covers home appliances, electronics, automobiles, and home renovation, with an "instant discount" model—no upfront payment or documentation required.

2. Subsidy Scale and Scope (2025 Fourth Batch): - Home Appliances: 20% for Tier-1 energy efficiency, 15% for Tier-2 (capped at 2,000/1,500 yuan). New additions include microwaves, water purifiers, and dishwashers (max 3 air conditioners). - Electronics: 15% for phones, tablets, and headphones (capped at 500 yuan; computers up to 2,000 yuan). - Automobiles: 20,000 yuan for new energy vehicle trade-ins, 15,000 yuan for fuel vehicles (includes older models). - Home Renovation: 15% for smart locks, lighting, and sanitary ware (capped at 1,000 yuan; elderly-friendly products up to 50%).

3. Application Channels and Steps (2025 Latest): - JD.com (main platform): - Home appliances/furniture: Search "Home Appliances 988" for instant discounts. - Phones/electronics: Search "Phone Discount 688" for 15% off (capped at 500 yuan). - Daily red envelopes: Search "Red Envelope 122" (claimable three times daily, up to 11,111 yuan, stackable with subsidies). - Taobao/Tmall: Search "Red Envelope 744" for daily red envelopes (up to 25,888 yuan, stackable with subsidies). - Regional platforms (e.g., Shanghai, Anhui): Participate via UnionPay App or local channels (lottery-based).

4. Regional Differences and "Coupon Rush" Tips: - Most provinces (e.g., Shandong, Hunan, Jiangsu): First-come-first-served (daily at 9 AM/8 PM). - Shanghai/Anhui: Lottery system (register in advance). - Warning: High-consumption provinces (e.g., Henan, Shandong, Guangdong) may close early—complete orders by December 15.

5. Trade-In Process (No Old Device Required): - The 2025 subsidy supports "direct subsidy without trade-in"—select "trade-in" at checkout for automatic discounts. - Steps (JD.com example): - Search the code (e.g., "Home Appliances 988"). - Select "trade-in" items (no old device upload needed). - Checkout displays instant subsidy (e.g., 2,000 yuan off). - Payment deducts subsidy directly from the central budget.

6. Stacking Discounts: Triple Savings (2025 Double 11 Edition): - Platform red envelopes (e.g., JD.com's "Red Envelope 122"). - Store coupons (stackable with subsidies). - Local vouchers (e.g., Guangdong/Zhejiang—combined discounts over 30%). - Example: A 6,999 yuan Tier-1 air conditioner: - 20% national subsidy → 1,399 yuan off. - 500 yuan red envelope → additional savings. - 300 yuan store coupon → further discount. - Final price: 4,799 yuan (total savings: 2,199 yuan).

7. FAQ: - Q1: Has the subsidy ended? A: No—69 billion yuan is still available until December 31, 2025 (first-come-first-served). - Q2: Can I get subsidies without an old device? A: Yes—select "trade-in" at checkout. - Q3: How long is the subsidy valid? A: 24 hours after claiming (void if returned). - Q4: Which regions may end early? A: High-demand provinces (e.g., Henan, Guangdong)—act by December 15.

8. Final Advice: Act Now! - Only 55 days left (until December 31, 2025). - 69 billion yuan quota—first-come-first-served. - Stack with Double 11 red envelopes, store coupons, and local vouchers. - No old device or paperwork required—instant discounts. - Recommended steps: - Open JD.com, search "Home Appliances 988" or "Phone Discount 688." - Claim daily red envelopes ("Red Envelope 122"). - Complete orders by December 15 to avoid delays. - Check local叠加 policies (e.g., UnionPay/Alipay).

Conclusion: The 2025 national subsidy—the largest, lowest-threshold, and widest-ranging in three years—is in its final 60-day countdown. Whether upgrading phones, buying appliances, renovating homes, or trading in vehicles, now is the year's best opportunity. Missing this may mean waiting another three years!