China plans $8.9B trade-in subsidies for gadgets, appliances, and cars starting in early 2026
China has announced a huge 62.5 billion yuan ($8.9 billion) plan to help people upgrade their stuff starting in early 2026.
Beginning with the New Year and Spring Festival, you can get up to 15% back (max 1,500 yuan) on new energy-efficient fridges, TVs, computers—even smartwatches and AI glasses get up to 500 yuan back.
Cars get a boost too
Thinking of swapping your car?
New energy vehicles (like EVs) score up to 20,000 yuan if you scrap your old ride or up to 15,000 yuan for a trade-in.
Gasoline cars under 2.0L also qualify for smaller but still solid discounts.
Why does this matter?
This move is part of China's push to keep its economy buzzing as it faces challenges like the housing slump and global trade pressure.
By making it easier (and cheaper) to upgrade everything from phones to cars, China hopes to boost overall household consumption—and this increased spending could potentially have ripple effects worldwide.