Communist Party of China Central Committee General Secretary and Chinese President Xi Jinping will meet with Chairman of Vietnam's National Assembly Tran Thanh Man in Hanoi on Monday.
Xi arrived in Hanoi earlier in the day for a two-day state visit, at the invitation of General Secretary of the Communist Party of Vietnam Central Committee To Lam and Vietnamese President Luong Cuong.
Xi's Vietnam visit coincides with the 75th anniversary of the establishment of diplomatic ties between China and Vietnam.
Vietnam is the first leg of Xi's current three-nation Southeast Asia tour, which will also take him to Malaysia and Cambodia for state visits from Tuesday to Friday at the invitation of King of Malaysia Sultan Ibrahim, and King Norodom Sihamoni of Cambodia.
Xi to meet chairman of Vietnam's National Assembly
China will enhance its equipment upgrading and trade-in programs in 2026 to boost domestic demand, the National Development and Reform Commission (NDRC) announced on Tuesday.
Regarding promoting large-scale equipment upgrades and replacing old consumer goods with new ones, significant progress was reported in 2025. In the past year, ultra-long-term special government bond funds were arranged to support approximately 8,400 equipment-upgrading projects, stimulating total investments exceeding 1 trillion yuan (about 143.5 billion U.S. dollars). Over 360 million people applied for subsidies under the consumer goods trade-in scheme, leading to sales of related goods surpassing 2.6 trillion yuan.
Wang Shancheng, director of the Department of Resource Conservation and Environmental Protection at the NDRC, said at a press conference that the Implementation of these measures will continue to be optimized in 2026.
"We will further lower the investment threshold for application projects, increase support for small and medium-sized enterprises, expand policy coverage, implement the requirements for building a unified national market, and implement unified subsidy standards nationwide for the scrapping and replacement of vehicles, trade-in of six categories of home appliances, and four categories of digital and smart product purchases," said Wang.
The NDRC representative also highlighted that in 2026, efforts will focus on comprehensively expanding domestic demand. An implementation plan to expand domestic demand for the 2026-2030 period will be formulated. Furthermore, the NDRC will promote upgrades in key industries, explore establishing a national-level mergers and acquisitions fund, and cultivate and bolster emerging and future industries.
China to enhance equipment upgrades and trade-in programs in 2026
