CCTV News: At the regular press conference of the Ministry of Commerce held on the afternoon of February 20, a spokesperson for the Ministry of Commerce introduced that since 2025, with the expansion of the policy of exchanging the old-for-new consumer goods policy, the vitality of the consumer market has continued to be released, and local governments have adapted to local conditions and formed many good experiences and practices.
The latest data from the Ministry of Commerce shows that as of February 19, 169,000 cars were scrapped and updated nationwide, more than 3.97 million consumers purchased 12 major household appliances for new products, more than 4.87 million units, more than 26.71 million consumers applied for new subsidies for purchase of three digital products in mobile phones, tablets, and smart watches (bracelets), and 647,000 units of electric bicycles for new purchases.
Ho Yadong, spokesperson of the Ministry of Commerce, said that driven by the old-for-new policy, the relevant industries maintained a rapid growth momentum. Since 2025, the national scrapped car recycling volume has increased by about 35% year-on-year, and the retail volume of new energy passenger cars has increased by more than 20% year-on-year.
The spokesperson of the Ministry of Commerce also introduced that various places have adapted to local conditions and formed many good experiences and practices. Hebei has created a "one-stop" service for the cancellation of old cars, the recycling of old batteries, and the registration of new cars.
Zhejiang encourages prefectures and cities to independently increase subsidy categories to better meet the diverse consumption needs of the people. Guangxi supports merchants to apply online to participate in the old-for-new transaction through government WeChat public accounts, so that data can be "run more" and merchants can "run less errands".
