On 30 September 2026, Xinhua Finance reported that China's National Development and Reform Commission (NDRC), together with the Ministry of Finance, allocated the fourth batch of RMB 62.5 billion in ultra-long special treasury bonds to local governments for consumer goods trade-in support. That completed the full-year RMB 250 billion allocation for the 2026 program.
Official tallies for January-August show trade-in-related merchandise sales of RMB 1.55 trillion, with subsidies reaching 208 million person-times. Breakdowns cited include 5.353 million vehicles traded in, 91.458 million units across six home-appliance categories, and 108 million digital and smart products purchased new. Under the policy push, retail of communications equipment, high-efficiency appliances, and wearable smart devices kept high growth, and new-energy passenger cars accounted for more than 60% of new passenger-car retail for five consecutive months.
NDRC said relevant departments will keep guiding localities on pacing, fund-use plans, and subsidy review/disbursement, while cracking down on fraudulent claims and misappropriation so the trade-in policy keeps supporting consumption. For overseas buyers, the practical signal is stronger domestic pull on shared China factory capacity into Q4, especially in appliances, digital devices, and auto-related lines.