Consumer fatigue and scaled-back policy support led to sharp sales declines in automobiles and home appliances in the first half of 2026
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Consumers shop for smart home appliances at a local trade-in promotional event in Qingzhou, Shandong province, on May 1, 2026. Photo: VCG
China's consumer goods trade-in programs generated 1.1 trillion yuan ($161.9 billion) in sales in the first half (H1) of 2026,…
The government is injecting new funds into a scaled-back trade-in program as a multiyear push to revive domestic consumption…
Reduced subsidies and tax changes drag down early‑2026 vehicle purchases while exports surge to offset weak domestic demand
The downturn comes after policymakers reduced trade-in subsidies and ended a decade-long tax exemption
Beijing has ramped up its consumer goods trade-in program to stimulate market vitality and promote a green transition, driving…
The subsidy scheme has been key to lifting China’s consumer spending this year. But it is expensive – and may be creating new…
