China sees surge in auto upgrade with 330 million visits to national auto trade-in platform

China's auto sales have been bolstered by the country's continuously optimized policies, including the ongoing national automobile trade-in program which has seen over 330 million visits to its information platform, the Ministry of Commerce (MOFCOM) said on Friday.

As of Thursday, the country had received 1.57 million applications for auto scrapping and renewal subsidies, as well as 1.26 million applications for local vehicle trade-in and renewal subsidies, demonstrating a rapid growth trend, said the ministry.

In September, domestic passenger car retail sales reached 2.112 million units, up 4.5 percent year on year and accelerating 5.5 percentage points from August. In the first three weeks of October, domestic passenger car retail sales grew 16 percent year on year, and 12 percent month on month.

"The national automobile trade-in information platform has achieved 'one-stop' handling of auto scrapping and renewal subsidy applications, with over 50 million registered users and more than 330 million visits. More than 2.3 million consumers planning to apply for subsidies have completed registration on the platform," said Li Gang, director general of the Department of Market Operation and Consumption Promotion of MOFCOM.

Li said that local authorities have also developed their own vehicle trade-in and home appliance trade-in information systems to streamline and standardize the subsidy application process.

Furthermore, many regions have introduced their own trade-in subsidy policies. For instance, Shanxi and Hunan have adopted new subsidy standards for applications submitted after April 24. In addition, Hebei, Shanghai, and Chongqing have expanded the categories of subsidized appliances beyond the eight specified by the central government. Other regions such as Jiangsu, Anhui, and Yunnan have dynamically adjusted their home renovation subsidy ranges to include smart home devices and textiles, aiming to provide consumers with greater benefits.

The surge in visits and subsidy applications underscore the effectiveness of China's optimized auto policies in driving consumer demand and facilitating the upgrade and renewal of the country's vehicle fleet. As the trade-in program continues to evolve, it is expected to provide ever-greater benefits to Chinese consumers.

China sees surge in auto upgrade with 330 million visits to national auto trade-in platform

Thousands of people in Pakistan have taken to the streets to stage protests following the U.S. and Israeli strikes on Iran and the killing of Iran's Supreme Leader Ayatollah Ali Khamenei.

A large rally was held outside one of Islamabad's largest Shiite imambargahs on Friday to protest the killing of Khamenei on the first day of the current U.S.-Israeli attacks on Iran on February 28. Demonstrators are chanting slogans against the U.S. and Israel, holding portraits of the slain Iranian leader and waving flags in solidarity with Iran.

Religious leaders addressing the crowd said the demonstrations are intended to express solidarity and condemn what they described as aggression by Israel and the United States.

Roads surrounding the area have been blocked with shipping containers, while heavy security has been deployed as authorities attempt to control the crowds and prevent the protests from spilling into nearby diplomatic districts.

The killing of Khamenei has sparked demonstrations across Pakistan and in other parts of the Muslim world. Within Pakistan's Shiite community in particular, Iran's leadership is widely viewed as a powerful symbol of resistance in the region.

In several cities nationwide, protests have already turned violent, with clashes between demonstrators and security forces leaving dozens dead and injured. Authorities have since heightened security around foreign missions and other sensitive locations.

Protests erupt in Pakistan over U.S.-Israeli attack on Iran