People shop for smartphones and other consumer electronics eligible for the Chinese government's trade-in subsidies at a retailer in Zaozhuang, East China's Shandong province, Feb 21, 2026. [Photo/Xinhua]
BEIJING - China's consumer goods trade-in programs generated 1.1 trillion yuan ($161.9 billion) in sales in the first half (H1) of 2026, benefiting 150 million consumers, official data showed on Wednesday.
Of the total, automobile trade-ins accounted for 3.707 million vehicles, while home appliance trade-ins reached 63.266 million units. Digital and smart product purchases totaled 79.098 million units.
Green products, especially new energy vehicles (NEVs), have gained traction amid the policy push, as consumers opt for more energy-efficient and eco-friendly options. The share of NEVs among subsidized auto trade-ins rose steadily to 65.4 percent in June, helping drive the NEV penetration rate to a record 62.4 percent in the second quarter.
Smart consumption accelerated, with digital and smart product sales volume up 13.4 percent year on year in H1 and 32 percent in June. Smart glasses became a new hotspot, with unit sales surging 30.6 percent in June.
