Policy Digest

Home appliance trade-ins surpassed 1 trillion yuan

China's sales of home appliances surged in 2024 under the policy-backed trade-in program, according to the Ministry of Commerce on Saturday.

Retail sales of home appliances and audio and visual equipment under the scheme reached 1.03 trillion yuan ($143.29 billion) in the year, according to data from the National Bureau of Statistics. This marked the first time the figure had surpassed 1 trillion yuan and represented a 12.3 percent year-on-year growth.