China finalizes 300-billion-yuan funding for consumer-goods trade-ins in 2025

BEIJING, Sept. 30 (Xinhua) -- China's National Development and Reform Commission (NDRC) said Tuesday that together with the Ministry of Finance, it has released the fourth -- and final -- tranche of this year's ultra-long special treasury bonds earmarked for consumer-goods trade-ins.

With this tranche, 69 billion yuan (about 9.7 billion U.S. dollars) in treasury bonds, the full-year central-government funding of 300 billion yuan has been completely disbursed.

The bond issuances are part of a broader effort to revive domestic demand by upgrading industrial equipment and replacing old consumer goods such as home appliances and vehicles.

Between January and August, 330 million consumers claimed trade-in subsidies, generating more than 2 trillion yuan in related sales.

Looking ahead, the NDRC will strive to disburse subsidies in a balanced and orderly manner, crack down on fraud and illegal profiteering, and ensure that every dollar of subsidy is used effectively to achieve tangible results.