This year, the sales revenue from the replacement of old consumer goods with new ones has surpassed 1 trillion yuan. According to information from the Ministry of Commerce on June 1, as of May 31, 2025, the total sales generated from five major categories of consumer goods reached 1.1 trillion yuan, with approximately 175 million subsidies issued directly to consumers.
Among these, the number of applications for subsidies on vehicle replacements reached 4.12 million. Additionally, 49.86 million consumers purchased 7.76 million units of 12 major categories of home appliances. Furthermore, 53.52 million consumers bought 5.66 million pieces of digital products, including smartphones. The replacement of electric bicycles accounted for 6.5 million units, while home renovation and kitchen and bathroom upgrades totaled 57.626 million orders.
This consumer goods replacement initiative has significantly contributed to a sustained recovery in consumption. From January to April 2025, the total retail sales of consumer goods across the country rose by 4.7% year-on-year.
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