Ministry of Commerce: Trade-in program has driven a 44.8% year-on-year increase in digital product sales since the start of this year.

Latest data from the Ministry of Commerce shows that, as of October 28, the trade-in program in 2026 has driven cumulative sales of related goods to exceed 2 trillion yuan, benefiting more than 257 million person-times, with multiple effects of the trade-in policy continuing to emerge. In terms of boosting consumption, sales of digital products such as mobile phones and tablets eligible for trade-in subsidies rose 44.8% year on year, driving retail sales of communication equipment up 18.1% year on year in the first three quarters. The policy has strongly guided green and intelligent industrial upgrading. New energy vehicles accounted for 60.5% of trade-in purchases, driving the penetration rate of the new energy passenger vehicle retail market above 60% for six consecutive months. In addition, since the beginning of this year, the number of offline stores participating in the trade-in policy has exceeded 736,000, up 37.1% year on year, strongly supporting the development of offline physical retail.