Is the national subsidy program already over? This question has been trending daily over the past two weeks. On October 21, the Ministry of Finance and the National Development and Reform Commission jointly announced that the fourth and final round of the 69 billion yuan "trade-in" national subsidy for 2025 officially launched nationwide on October 1 at midnight. The program will run until December 31, 2025, with no extensions, additions, or retroactive payments once funds are exhausted. For consumers planning to upgrade appliances, electronics, or even vehicles during the "Double 11" and "Double 12" shopping festivals, this represents the last policy benefit of 2025, with at least a one-year gap expected before the next opportunity.

Key Highlights: 1. The 300 Billion Yuan Annual Subsidy Enters Final Phase In 2025, China allocated 300 billion yuan in special long-term treasury bond funds, distributed in four batches: - Batch 1 (Jan-Mar): 81 billion yuan (fully utilized) - Batch 2 (Apr-Jun): 81 billion yuan (fully utilized) - Batch 3 (Jul-Sep): 69 billion yuan (emergency alerts issued in mid-September) - Batch 4 (Oct-Dec): 69 billion yuan (launched October 1 as the final round)

2. Coverage and Benefits: Eight Categories with Up to 2,000 Yuan Subsidies The fourth batch continues the "trade-in + energy efficiency" dual-channel model, covering appliances, electronics, automobiles, and more. Subsidy qualifications are limited daily on a first-come, first-served basis.

3. How to Claim: Three-Step Process - Step 1: Claim platform coupons JD.com app: Search "红包到手688" (3x daily, max 11,111 yuan) Taobao app: Search "红包到手9090" (1x daily, max 25,888 yuan) *Coupons can be stacked with national subsidies* - Step 2: Obtain subsidy qualification Appliances/furniture: JD.com app search "家电900" (max 2,000 yuan discount) Electronics: JD.com app search "数码900" or "手机900" (max 500 yuan subsidy) - Step 3: Automatic verification at checkout when meeting trade-in or top-tier energy efficiency requirements

4. Critical 66-Day Window: Avoid These Pitfalls - National and local subsidies cannot be combined (system automatically applies higher amount) - Qualification vouchers expire daily (recommend ordering within 24 hours) - Popular models (75"+ TVs, 1.5HP energy-efficient ACs, flagship phones) face stock shortages - Auto subsidies require old vehicle scrapping/transfer, with applications due by January 10, 2026

5. Next Opportunity Likely Two Years Away The Ministry of Finance confirmed no additional subsidies of similar scale in 2026. Industry analysts predict the next national consumer subsidy program won't arrive until 2027 at the earliest, with uncertain funding and coverage.

With only 66 days remaining until December 31, consumers can now combine national subsidies, platform coupons, and brand promotions during the year's lowest-price "Double 11"/"Double 12" events. Search the above keywords on JD.com or Taobao to secure qualifications and maximize savings.