China's Trade-in Program Boosts Smart Cooling Upgrade
China's national trade-in program has driven a shift towards more efficient and smarter cooling systems across the country. The program, funded by ultra-long special treasury bonds, generated 1.1 trillion yuan in sales and benefited 150 million consumers in the first half of 2026. This upgrade in quality of consumption is expected to continue, with total retail sales of consumer goods reaching 24.87 trillion yuan in the first half of 2026.
Key points
- China's national trade-in program, funded by ultra-long special treasury bonds, generated 1.1 trillion yuan in sales and benefited 150 million consumers in the first half of 2026.
- The program has driven a shift towards more efficient and smarter cooling systems, with total retail sales of consumer goods reaching 24.87 trillion yuan in the first half of 2026.
- The trade-in program has been narrowed in scope to raise the subsidy, targeting more efficient appliances.
- China's upgrade in quality of consumption is expected to continue, with consumer goods sales increasing by 1.3 percent year on year.
- The program aims to promote the adoption of more energy-efficient and environmentally friendly appliances.
China's national trade-in program has been a driving force behind the country's shift towards more efficient and smarter cooling systems. The program, which was launched earlier this year and is funded by ultra-long special treasury bonds, has generated 1.1 trillion yuan in sales and benefited 150 million consumers in the first half of 2026.
The program's success can be seen in the numbers. Total retail sales of consumer goods reached 24.87 trillion yuan in the first half of 2026, up 1.3 percent year on year. This growth is expected to continue, with the program aiming to promote the adoption of more energy-efficient and environmentally friendly appliances.
However, the program has been narrowed in scope to raise the subsidy, targeting more efficient appliances. This move is expected to further drive the adoption of smarter and more energy-efficient cooling systems across the country.
As China continues to upgrade its quality of consumption, the trade-in program is expected to play a key role in promoting the adoption of more environmentally friendly appliances. With its success so far, the program is likely to continue driving growth in the consumer goods market in the coming months and years.
Sources
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