China's new trade-in program sparks consumption boom

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

For many voters who will go to the polls Thursday in Uganda's presidential election, the economy remains the primary issue with rising living costs and limited job opportunities being the key test for whoever leads the Eastern African country next.

Thursday's presidential election is a rematch of the 2021 contest with 81-year-old Yoweri Museveni, in power for four decades, being challenged once again by 43-year-old opposition leader Bobi Wine.

In the landlocked country's capital of Kampala, the cost of everyday life is rising. Food, transportation and rent now account for a larger share of household income, especially for urban families.

As Ugandans prepare to vote, jobs and the cost of living are dominating conversations on the street. And these issues, they say, are causing people to get desperate.

"As young people, we struggle to find jobs. Many of us have no work, and that's why crime is rising," said Addu Mukasa, a Kampala resident.

Uganda's economy has largely recovered since the COVID-19 pandemic, with government figures pointing to steady growth and increased public investment.

Officials at the Ministry of Finance say inflation remains relatively stable and that government spending is focused on sustaining growth while creating employment. They say investments in roads, energy projects, and the nascent oil production sector are laying the foundation for future jobs.

"The GDP grew by 6.3 percent last financial year, which ended in June 2025, and it is now projected that it's going to grow between 6.5 and 7 percent this financial year 25/26," said said Ramathan Ggoobi, permanent secretary of Uganda's Ministry of Finance.

But economists say that growth has not been felt evenly, especially among young people, many of whom work in the informal sector. They also warn that rising public debt, along with global fuel and food prices, continues to weigh on household finances.

"I think government has to be deliberate and strategic mainly to see how we are going to grow the economy. We need to cut out certain expenditures, which are useless. Take an example of the parliament. That parliament is too huge," said Jane Nalunga, an economic analyst.

As the election day approaches, economic expectations are high. For many Ugandans, the priority is simple -- jobs that pay, and living costs they can manage. Whoever wins will face pressure to turn their proposals into everyday gains very quickly.

Economy remains primary issue as presidential election draws close in Uganda