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Shanghai, Shenzhen, Chongqing Launch Full-swing Trade-in Subsidy Programs from Yesterday
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The announcement for the home appliance trade-in, and digital and smart product purchase subsidy program for 2026 was released in Shanghai. The first registration period is from yesterday (1st) at 8 AM to next Monday (5th) at 8 PM, with voucher issuance on next Wednesday (7th) and redemption within 14 days after the subsidy voucher is credited. According to the national unified categories and standards, subsidies are provided to individual consumers purchasing six types of home appliances with Lv. 1 energy or water efficiency standards, including refrigerators, washing machines, televisions, air conditioners, water heaters, and computers, as well as four types of digital and smart products with a single sales price no more than RMB6,000, including mobile phones, tablets, smart watches, and smart glasses. The subsidy standard is 15% of the final sales price after deducting discounts at various stages, with one item subsidized per person per category. For home appliances, the subsidy per item does not exceed RMB1,500, and for digital and smart products, it does not exceed RMB500. On the same day, Shenzhen fully launched the vehicle scrapping renewal, vehicle replacement renewal, as well as subsidies for six types of home appliance trade-in and four types of digital product purchase. For vehicle scrapping renewal, the maximum subsidy for NEVs is RMB20,000, and for ICEVs, it is RMB15,000. For purchasing passenger NEVs, the maximum subsidy is RMB15,000, and for passenger ICEVs, it is RMB13,000. Six types of home appliances are subsidized at 15% of the product sales price, with one item subsidized per consumer per category, and each item subsidy not exceeding RMB1,500; four types of digital and smart product purchase subsidies are at 15% of the product sales price, with one item subsidized per consumer per category, and each item subsidy not exceeding RMB500. Meanwhile, the Chongqing Municipal Commerce Commission announced the comprehensive launch of vehicle scrapping renewal, vehicle replacement renewal, home appliance trade-in, and digital and smart product purchase subsidy policies, according to the Chongqing Daily. The first batch of funds for the 2026 consumer goods trade-in includes RMB210 million for vehicle scrapping renewal subsidies, RMB555 million for vehicle replacement renewal subsidies, RMB450 million for home appliance subsidies, and RMB301 million for digital and smart product subsidies. AASTOCKS Financial News Website: www.aastocks.com |
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