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CN NDRC: Car Trade-In Program Fuels New Car Sales of RMB116.5B in 2M25
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China's National Development and Reform Commission (NDRC) stated that the "Two New" policies further intensified and took effect in 2M25, propelling an 18% YoY rise in equipment and tool purchase investments and a 4% YoY hike in total retail sales of consumer goods. These policies continue to play a major role in boosting consumption, stabilizing investment, promoting transformation, and improving livelihoods. During this period, over 1.07 million vehicles were traded in under the car trade-in program, generating new car sales of RMB116.5 billion. Applications for appliance trade-ins topped 20 million units, with retail sales of household appliances by enterprises above the designated size reaching RMB153.7 billion, up 10.9% YoY. The retail sales of communication equipment by such enterprises grew 26.2% YoY. Electric bicycle trade-ins totaled 1.17 million units, fueling new vehicle sales of RMB3.5 billion. AAStocks Financial News |
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