Vice Minister of Commerce Sheng Qiuping: The old-for-new policy will drive the household appliance and mobile phone markets to both surpass 1 trillion yuan in size by 2025.

2026-04-12 06:47:51

Vice Minister of Commerce Sheng Qiuping stated at the launch ceremony of the 2026 National Home Appliance, Digital, and Smart Product Consumption Season held today that since 2024, the implementation of policies for old appliance replacement, digital, and smart product purchase subsidies has achieved remarkable results. Under the influence of these policies, by the end of 2025, the sales volume of the above categories exceeded 280 million units, with sales revenue surpassing 970 billion yuan. This drove the home appliance and mobile phone markets to both break through the 1 trillion yuan mark in 2025, setting a new record. (Cailian Press)

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