China’s consumer goods trade-in program is rolling out on track, with 138 billion yuan (about 19.2 billion U.S. dollars) in central government funds set to be released in the latter half of 2025, according to the National Development and Reform Commission (NDRC) on Friday.
The National Development and Reform Commission (NDRC) and the Ministry of Finance will allocate the central government funds in July and October. Authorities are currently guiding localities to improve and streamline subsidy payout mechanisms to ensure a smooth and balanced rollout of the policy through the end of the year.
Two earlier rounds in January and April provided 162 billion in funding to cover the first half of the year's activities.
An NDRC official said that the nationwide subsidy for consumer goods trade-in program has achieved roughly 50 percent utilization of its annual allocation, aligning closely with expectations.
Since the beginning of this year, the NDRC, Ministry of Finance, and Ministry of Commerce have collectively allocated 300 billion yuan in treasury bonds to broaden and intensify the scope of the trade-in program nationwide, with the figure doubling from that of 2024.
According to the NDRC, local governments are required to provide matching funds based on a 9:1 central-to-local funding ratio, and may allocate supplementary funds depending on regional progress and specific needs.
China to release 138 bln yuan for consumer goods trade-in subsidies in second half 2025
Some Iranians in Türkiye are crossing back over the border, driven by worry and desperation, as a nationwide communications blackout in Iran has left them cut off from their loved ones.
Protests have erupted in many Iranian cities since Dec. 28. They initially began with Tehran bazaar merchants demonstrating against the sharp devaluation of the national currency rial, and soaring inflation, before spreading to other cities. The unrest has led to casualties among both security forces and civilians.
At the Turkish-Iranian border, many are returning with no certainty about what awaits them, filled instead with questions and growing fear for those on the other side of the border.
"I went to Van yesterday for internet. I urgently needed to use the internet. I got it done. Now I'm heading straight back. There are protests everywhere. We can't get any news. We can't communicate with our families. And it's not just me, there are many Iranians outside the country who can't reach their families," said Feriste, an Iranian citizen.
With communications blacked out across Iran, those outside the country feel powerless to check on the situation back home. For some, this silence has prompted them to return across the border, even as tensions continue to rise.
"We can't get any news. There is no internet. Everything is shut down. I want to search. I want to find out. I want to see my brother. I'm going to see my family," said Husnu, an Iranian citizen.
"I work in Türkiye, and I have no news from Iran at all. I'm going back because I'm worried about my family. It's been days since I last heard from them, and because I'm worried, I'm returning to Iran now. Of course, we are concerned about our safety. We don't know what awaits us there," said another Iranian.
With protests escalating and government blackouts still in place, many Iranians are caught between staying in safety abroad and risking everything to reconnect with their families.
"We had to come to Türkiye because we couldn't reach our families. Schools were closed already. All official institutions were shut down. We have no information about other cities either, because there is no communication network there. There is no television, no internet. We can't even check Twitter," said Nazlican, another Iranian citizen.
Iranians in Türkiye return home, fearing for their families amid unrest in Iran
Iranians in Türkiye return home, fearing for their families amid unrest in Iran
