China’s commerce ministry said consumer goods trade-in programs generated more
than 433.2 billion yuan ($60 billion) in sales in the first quarter, benefiting
over 60 million consumers. Auto trade-ins accounted for 228.7 billion yuan, with
1.41 million subsidy applications boosting new car sales. Home appliances,
digital and smart products contributed 204.5 billion yuan, with total sales of
59.5 million units, the ministry said.
