Shanghai will continue to promote consumer goods trade-ins for vehicles, home appliances, home furnishings and electric bicycles in 2025 to boost market demand and consumption.

According to the Shanghai Municipal Commission of Commerce, eight categories of home appliances with high energy efficiency — including refrigerators, washing machines, TVs, air conditioners, computers, water heaters, household stoves and kitchen hoods — will continue to enjoy trade-in subsidies from Jan 1.

Consumers can obtain vouchers through payment platforms — such as UnionPay, Alipay and WeChat — from 7 am to 11 pm daily. They can enjoy trade-in subsidies at stores, as well as on e-commerce platforms, according to the 2024 standards.

Seven categories of products — including small household appliances, home furnishings, household items, rehabilitation aids and seniors-friendly products — are eligible for trade-in subsidies under the municipal consumer goods trade-in policy.

For car trade-ins, consumers buying new cars can follow the 2024 national policy for recycling and replacement of scrapped vehicles and retain relevant documentation until the new national policy for 2025 is released.

The 2025 Shanghai policy for recycling and replacement of scrapped vehicles will be released and implemented after the launch of the 2025 national trade-in policy.

The 2025 trade-in subsidies for electric bicycles in Shanghai will follow the 2024 guidelines.

Overall, the city's immensely popular trade-in campaign  significantly boosted consumption in 2024.

According to Shanghai Commercial Trade Association of Household Electric and Electronic Appliances, over 3.57 million participants had joined the trade-in program for appliances and home products as of Dec 11.

During the policy implementation period, about 1.17 billion yuan ($160.07 million) in subsidies were distributed – driving appliances and home product sales to exceed 10 billion yuan in total.

Source: xinmin.cn