(ECNS) — China’s trade-in coverage fueled greater than 2.9 trillion yuan ($403.69 billion) in gross sales through the first half of 2025, benefiting roughly 400 million individuals, officers mentioned Friday.
The trade-in coverage has not solely stimulated consumption but additionally promoted good and inexperienced upgrades, enhancing high quality of life via clever and eco-friendly consumption, mentioned Wang Wentao, Minister of Commerce.
Since its launch in September final yr, retail gross sales of house home equipment by designated giant enterprises have maintained double-digit development for consecutive months, the minister famous. By 2024, the variety of new vitality autos in use had surged 5.4 occasions in comparison with 2020, with their market penetration fee reaching 50.2% within the first half of this yr, Wang added.
(By Zhang Dongfang)
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