(ECNS) -- China's trade-in policy fueled more than 2.9 trillion yuan ($403.69 billion) in sales during the first half of 2025, benefiting roughly 400 million people, officials said Friday.
The trade-in policy has not only stimulated consumption but also promoted smart and green upgrades, enhancing quality of life through intelligent and eco-friendly consumption, said Wang Wentao, Minister of Commerce.
Since its launch in September last year, retail sales of home appliances by designated large enterprises have maintained double-digit growth for consecutive months, the minister noted. By 2024, the number of new energy vehicles in use had surged 5.4 times compared to 2020, with their market penetration rate reaching 50.2% in the first half of this year, Wang added.
(By Zhang Dongfang)
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