China's consumer goods trade-in program has generated more than 300 billion yuan (about $43.5 billion) in sales so far this year.

Data from the Ministry of Commerce show the policy has driven sales of 47.623 million products in 2026, up 15.3% year on year, generating 323.26 billion yuan in sales, a 3.2% increase from a year earlier.

Vehicle trade-ins accounted for the largest share, with 1.008 million subsidy applications submitted, generating 164.43 billion yuan in new car sales.

Home appliance replacement programs recorded sales of 17.13 million units, generating 69.44 billion yuan in revenue.

Meanwhile, purchases of digital and smart products reached 29.485 million units, driving 89.39 billion yuan in sales.

Earlier this year, seven government departments, including the Ministry of Commerce, issued a notice aimed at improving the efficiency and quality of the trade-in subsidy program in 2026.

The notice said China will continue allocating funds from ultra-long special treasury bonds, while local governments should allocate supporting funds to ensure the policy's implementation.