Zhejiang's trade-in program reaches 12m consumers

A foreign trader conducts business at Yiwu International Trade Market in Jinhua, Zhejiang province, on May 5. [Photo provided to China Daily]

The rollout of trade-in subsidies for consumer goods in East China's Zhejiang province has reached over 12 million consumers since the beginning of 2024, according to figures released by the Department of Commerce of Zhejiang Province on April 30.

So far, 9.4 billion yuan ($1.30 billion) in subsidies have been distributed. Among them, 251,000 cars were upgraded, 20.15 million units of household appliances and consumer electronics were bought, 7.72 million pieces of home furnishings were purchased, over 23,000 applications for renovating old houses were submitted, and almost 21,000 households underwent age-friendly renovations.

What started as a national 12-category subsidy plan has expanded coverage to 85 product types and added 60 more through regional programs.

The campaign has pulled in more than 18,000 businesses and 30,000 retail outlets, blending online and offline channels. The province has also encouraged layered discounts through platforms, banks, and retailers.

Officials say the next phase will focus on clearer communication and more tailored trade-in scenarios from smart kitchens to senior-friendly homes.