Sales revenue from China's trade-in program exceeds 2.9 trl yuan in H1: minister

Sales revenue from China's consumer goods trade-in program surpassed 2.9 trillion yuan (about 403.68 billion U.S. dollars) in the first half of this year, benefiting about 400 million participants, Minister of Commerce Wang Wentao said at a press conference in Beijing on Friday.

The program, a key part of the country's broader strategy to stimulate domestic consumption, encourages consumers to replace outdated products - such as home appliances and vehicles - with newer, more efficient models.

"Since September last year, the online retail sales of home appliances by major enterprises have consistently recorded double-digit growth. In 2024, the number of new energy vehicles in use increased by 5.4 times compared to 2020. In the first half of this year, the nationwide penetration rate of new energy vehicles exceeded 50 percent, reaching 50.2 percent. Overall, the trade-in program generated over 2.9 trillion yuan (about 403.68 billion U.S. dollars) in sales revenue from January to June this year, benefiting around 400 million participants through subsidies and various incentives," said Wang.

The minister emphasized that the trade-in program has significantly contributed to a more intelligent and sustainable lifestyle for consumers.

Sales revenue from China's trade-in program exceeds 2.9 trl yuan in H1: minister

Sales revenue from China's trade-in program exceeds 2.9 trl yuan in H1: minister

Sales revenue from China's trade-in program exceeds 2.9 trl yuan in H1: minister

The closure of Poipet border crossing, the largest land border crossing between Thailand and Cambodia, has left large numbers of people stranded on both sides of the border and unable to return home amid continuing clashes.

At the Thai side of the border on Saturday, security personnel carried out strict checks on all vehicles and people at a distance of about 500 meters from the Poipet crossing, and only those holding Cambodian documents and relevant personnel were allowed access to the area.

"I have been in Thailand for about three to four years, working in a factory. Now the situation at the border is not good, so I want to go back to my hometown," said one of the stranded Cambodian nationals.

Another more than 20 Cambodian nationals failed to go home through the Poipet border crossing on Saturday, and were later picked up by a kind-hearted Thai local, who said that many groups of Cambodians had tried to cross the border every day but failed recently.

"They have no place to sleep, and they would be bitten by mosquitoes if sleeping outdoors, so I want to take them to my place. They just can't go through this checkpoint," said the local.

Thai Foreign Minister Sihasak Phuangketkeow said at a press conference Saturday that 6,000 to 7,000 Thai nationals were stranded on the Cambodian side of the Poipet border checkpoint.

Closure of Poipet border crossing leaves many stranded amid clashes