Story perspectives

China's Trade-In Program Sparks 22 Million Phone Sales

3/22/2025

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Summary

Story summary

China's consumer spending initiatives are thriving, fueled by a successful trade-in subsidy program for digital products.
Over 42 million consumers applied for subsidies, leading to 22 million mobile phones sold, totaling 66.95 billion yuan (approximately 9.2 billion USD).
The program, effective since January 20, offers a 15% subsidy on eligible devices priced under 6,000 yuan.
Weekly mobile phone sales increased by 13.7%, with lower-priced models experiencing a 23.5% boost.
The initiative involves over 33,000 offline market participants and 70,000 stores.

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Story summary

China's consumer spending initiatives are thriving, fueled by a successful trade-in subsidy program for digital products.
Over 42 million consumers applied for subsidies, leading to 22 million mobile phones sold, totaling 66.95 billion yuan (approximately 9.2 billion USD).
The program, effective since January 20, offers a 15% subsidy on eligible devices priced under 6,000 yuan.
Weekly mobile phone sales increased by 13.7%, with lower-priced models experiencing a 23.5% boost.
The initiative involves over 33,000 offline market participants and 70,000 stores.