Over the past five years, the total value of China's import and export with Nepal has surpassed 55 billion yuan, with an average annual growth rate of 11.7 percent, official date showed on Friday.
As an important partner of China in building the Belt and Road Initiative in South Asia, Nepal's trade relations with China is growingly closer over the past several years.
The two countries saw a new historical phase in their bilateral relations following the elevation of their relationship to a strategic partnership in 2019.
In the first 10 months of this year, the total value of China's trade with Nepal reached 11.218 billion yuan (about 1.54 billion U.S. dollars). Among them, the Xizang Autonomous Region's export to Nepal of the "new trio," namely electric vehicles, lithium-ion batteries, and photovoltaic products, amounted to 225 million yuan (about 31 million U.S. dollars), showing a significant year-on-year growth.
This year, China and Nepal have continued to strengthen port construction and improve customs clearance facilitation. The four China-Nepal land ports have been operating smoothly and in an orderly manner, promoting bilateral economic and trade cooperation as well as personnel exchanges.
In the first 10 months of this year, the cargo volume at the four China-Nepal land ports came to 180,000 tonnes, a year-on-year increase of 51 percent.
"In the first 10 months of this year, trade value between Xizang and Nepal reached 3.14 billion yuan (about 432 million U.S. dollars), a year-on-year increase of 46.4 percent, accounting for 28 percent of the total China-Nepal trade value during the same period. The high-quality Belt and Road cooperation has gradually highlighted Xizang's geographic advantage as a gateway to South Asia," said Qiong Da, head of First Comprehensive Business Division of the Lhasa Customs.
China's foreign trade with Nepal surpassed 55 bln yuan over past 5 years
A new round of trade-in subsidy program is energizing China's consumer market these days, with provinces across the country seeing a surge in demand for cars, home appliances and digital devices.
In north China's Shanxi Province, the new trade-in subsidy program, which started on January 9, has further helped boost sales in home appliances and digital devices which are covered by the new round of subsidies.
To enjoy the subsidies, six types of home appliances, including refrigerators and washing machines, must meet national Level 1 energy-efficiency or water-efficiency standards. Digital and smart products include four types, such as mobile phones and tablets, with a sales price cap of 6,000 yuan (about 800 U.S. dollars) per item.
In both categories, subsidies are set at 15 percent of the final transaction price. For home appliances, the maximum subsidy is 1,500 yuan per item. For digital products, the cap is 500 yuan per item. Each consumer can receive a subsidy for one unit in each category.
Neighboring Shanxi, Hebei Province kicked off the year of 2026 with the new round of trade-in subsidy program starting on January 1.
The subsidies cover automobiles, home appliances, and digital products. Individual consumers who purchase designated Level 1 energy-efficiency appliances or eligible digital products priced at no more than 6,000 yuan can receive subsidies equal to 15 percent of the transaction price. The maximum subsidy is 1,500 yuan per appliance and 500 yuan per digital or smart device, with each person limited to one subsidized item in each category.
Data showed that from Jan 1 to 9, Hebei's home appliance trade-in program alone disbursed more than 130 million yuan in subsidies, driving sales of over 920 million yuan.
In east China's Jiangsu Province, the new trade-in subsidy program, taking effect for two weeks, has brought the province a boom in trade-in.
At a local 4S store in Jiangsu's Suqian City, showroom traffic has spiked as salespeople walked customers through the new benefits from the trade-in subsidy program.
"Under the scrappage-and-replacement scheme, customers who buy a new energy vehicle (NEV) can receive a subsidy worth 12 percent of the vehicle price, capped at 20,000 yuan (about 2,860 U.S. dollars). For combustion-engine cars, the subsidy is 10 percent, with an upper limit of 15,000 yuan. For trade-ins, NEVs are able to receive a subsidy worth 8 percent of the vehicle price, up to 15,000 yuan, while combustion-engine cars will receive a 6-percent subsidy, with a cap of 13,000 yuan," said Sun Yue, a saleswoman at the store.
In the home appliance sector, Jiangsu's policy this year stipulates that only products that meet China's Level 1 energy-efficiency standard are eligible for subsidies. The scheme covers six major categories, including refrigerators and washing machines.
Consumers who purchase qualifying appliances can receive a subsidy equal to 15 percent of the final retail price, up to a maximum of 1,500 yuan per item. Each person is limited to one subsidized unit per product category.
Four types of digital and smart products, such as mobile phones and tablets, are eligible for a 15-percent subsidy capped at 500 yuan per unit, with a retail price no more than 6,000 yuan.
"With the national subsidy policy back in place this year, I went to the store to check what discounts I could get. It knocked 500 yuan off the price. [The discounted price is] very reasonable," said Wang Kang, a resident of Jiangsu's Xuzhou Province.
To enhance the shopping experience for consumers, many retailers are pairing subsidies with "one-stop" services that combine the delivery of new products with on-site collection of old ones.
"After consumers place an order for new home appliances, our staff will schedule a time to pick up the old units. Recycling the old appliance can also further offset the purchase price of the new one," said Yang Jie, a sales supervisor at a major home appliance company.
China's new trade-in program sparks consumption boom
