China records big achievements in trade-in policy

China has continuously expanded the scope of the trade-in policy for consumer goods this year, and the country has seen remarkable achievements so far, the Ministry of Commerce said on Thursday.

So far this year until Wednesday, some 169,000 cars nationwide have been scrapped and updated, and the recycling volume of scrapped cars has grown by about 35 percent year-on-year. Besides, the retail sales volume of new energy vehicles has increased by over 20 percent on a yearly basis, according to the ministry.

Over the same period, more than 3.97 million consumers bought over 4.87 million units of home appliances through trade-in deals. Over 26.71 million consumers have applied for subsidies to buy new digital products including smartphones, tablets, smart watches and wristbands. And some 647,000 electric bicycles have been exchanged for new ones.

"Driven by the country's trade-in policy for consumer goods, related industries have maintained a rapid growth momentum," He Yadong, spokesman for the ministry, said during a news conference in Beijing.

Meanwhile, various domestic regions have innovated their work methods and shaped some good experiences and practices based on local conditions.

For instance, Hebei province established a cross-department collaborative mechanism for exchanging old electric bicycles for new ones, creating one-stop services to facilitate consumers' trade-in deals. Zhejiang province encouraged different cities to independently raise subsidy categories to better meet diverse demand of consumers.

"Next, the ministry will further optimize the work process and focus on publicity of the project, and achieve better results in promoting the trade-in deals," He said.