- China’s exchange program generated 502.94 billion yuan (~$74 billion) in sales
- Nearly 70 million purchases were supported through subsidy-based incentives.
- Digital products accounted for the largest proportion of units sold.
China has released new figures for its government-backed consumer goods sharing initiative, and the numbers are substantial.
According to the Ministry of Commerce, as of April 12, 2026, the scheme had generated total sales of 502.94 billion yuan (~$74 billion) and benefited nearly 69.78 million individual purchases.
Within these totals, digital and smart products accounted for 41.08 million units sold, generating 122.41 billion yuan (~$18 billion) in revenue.
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Appliance exchange leads the pack
Home appliance sales reached more than 27 million units with sales of 111.09 billion yuan (~$16 billion), while automobile sales surpassed 1.67 million units, driving new vehicle sales of more than 269.44 billion yuan (~$40 billion).
The 2026 performance becomes more significant when compared to previous data.
In all of 2025, consumer goods exchange programs benefited 366 million purchases and generated product sales worth a total of 2.61 trillion yuan (~$383 billion).
By the end of May 2025, the program had already boosted sales of five key categories of consumer goods to 1.1 trillion yuan (~$161 billion), with around 175 million subsidy payments issued directly to consumers.
The 2025 effort was backed by 300 billion yuan (~$59 billion) in special ultra-long Treasury bonds, double the amount allocated in 2024.
By 2026, the government plans to allocate a total of 250 billion yuan (~$37 billion) in such bonds, with 62.5 billion yuan (~$9 billion) already distributed as a second batch of financing in April 2026.
The 2026 sales figures, while impressive – more than half a trillion yuan in just over three months – are still below the annual pace set for 2025.
However, direct comparisons remain complicated because the program expands its product coverage each year.
The Chinese incentive-driven model contrasts with the European Union’s framework under the WEEE Directive.
The EU focuses on producer responsibility in the collection and processing of old electronic consumer goods.
However, in Moldova, the EcoVoucher program offers 305 euro ($358) vouchers to vulnerable households when they return old appliances for replacement.
The scheme covers up to 70% of the cost of a new refrigerator or washing machine, ensuring that recycling directly reduces purchasing barriers.
More than 40,000 appliances have already been replaced, generating energy savings of more than €1.22 million ($1.4 million) and accelerating the elimination of inefficient devices.
India also has a similar production-linked incentive scheme, which has disbursed Rs 28,748 crore ($3.46 billion) since 2021 to support electronics production and upgrades.
The objectives of these plans are different, but experts have noted that China’s model drives product improvement and industrial transformation.
Through News.cn
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