[China's trade-in program lifts digital product sales 44.8% YoY]

Published: Oct 31, 2026 23:27 (GMT+8)

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Data from China's Ministry of Commerce show that, as of Oct 28, the 2026 trade-in program had driven cumulative sales of related goods past RMB 2 trillion, benefiting over 257 million people. Digital products covered by trade-in subsidies, including mobile phones and tablets, saw sales rise 44.8% year on year, lifting retail sales of communications equipment up 18.1% in the first three quarters. The policy has also driven green and smart upgrades: new energy vehicles (NEVs) accounted for 60.5% of trade-in purchases, and the NEV passenger car retail penetration rate has exceeded 60% for six consecutive months.

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