A total of 335,000 applications for the 2026 auto trade-in subsidy program have been filed across China as of Feb 5, 2026, driving new car sales of over 53.7 billion yuan (about 7.7 billion U.S. dollars), according to the Ministry of Commerce.
In January, the average price of new cars participating in the trade-in program exceeded 160,000 yuan, a significant increase compared to the previous year.
Meanwhile, 659,000 scrapped vehicles were recycled nationwide, a year-on-year increase of 50.2 percent.
New car sales from trade-in program across China exceed 50 bln yuan
New car sales from trade-in program across China exceed 50 bln yuan
The Arab countries support the global initiatives put forward by Chinese President Xi Jinping, and are working closely with China to ensure the implementation of these initiatives, said Arab League Secretary-General Ahmed Aboul-Gheit.
Aboul-Gheit made the remarks in an interview with China Media Group (CMG), which aired on Friday.
In recent years, China has successively launched four major global initiatives: the Global Development Initiative (GDI), the Global Security Initiative (GSI), the Global Civilization Initiative (GCI), and the Global Governance Initiative (GGI), constituting a holistic framework for jointly building a community with a shared future for humanity.
Each initiative addresses a fundamental pillar of global cooperation: the GDI seeks to lay the material foundation, the GSI is designed to safeguard stability, the GCI tries to foster shared understanding, and the GGI intends to provide the institutional architecture.
"We support all of them. The Arab countries are in support right now, in support of, if not all, the Chinese initiatives presented by President Xi. They are working closely with the Chinese," Aboul-Gheit said.
The Arab League chief visited China in November 2025 to attend the 11th China-Arab States Civilizations Dialogue and a meeting on the Global Development Initiative.
"We in Arab countries, we appreciate what the Chinese are offering. We are working closely with them to enhance and to ensure the success of such initiatives," he said.
Arab countries support President Xi's global initiatives: Arab League chief
