BEIJING, Dec. 31 — China on Wednesday released detailed policies for its 2026 home appliance trade-in subsidy program, along with incentives for the purchase of digital and smart products, as part of broader efforts to boost domestic consumption.
According to a notice jointly issued by the Ministry of Commerce and other government departments, individual consumers purchasing energy- and water-efficient household appliances will be eligible for subsidies of up to 1,500 yuan (about 213 U.S. dollars) per item.
Eligible products include refrigerators, washing machines, televisions, air conditioners, water heaters and computers, with the subsidy set at 15 percent of the final purchase price after discounts.
The notice also specifies that participating retailers must have the capacity to recycle used appliances and provide integrated services combining the delivery of new products with the collection of old ones.
In addition, subsidies will cover certain digital and smart products, including mobile phones, tablet computers, smartwatches and smart bands, priced at no more than 6,000 yuan each.
For these products, the subsidy will be capped at 500 yuan per item. The authorities also stressed the need to improve coverage in rural areas, particularly in remote regions.
Large retail chains, brand stores and specialized outlets are encouraged to expand their services into rural markets through mobile sales vehicles, temporary fairs and other formats.
China began rolling out subsidies for consumer goods trade-ins in 2024 to boost market confidence and stimulate domestic demand.
The expansion of domestic demand is set to top China’s major economic priorities next year, according to the recent Central Economic Work Conference, which also outlined plans to implement consumption-boosting campaigns, as well as plans to increase the incomes of urban and rural residents.(Namibia Daily News/Xinhua)
