China’s third batch of trade-in funding in 2026 will be allocated by the end of June, a spokeswoman for the National Development and Reform Commission said on Thursday.
At a press conference held in Beijing, Li Chao, the spokeswoman, introduced the latest developments of trade-in subsidies.
China has allocated two batches of consumer goods trade-in funding totaling 125 billion yuan (about 18.45 billion U.S. dollars) from January to May. This has driven sales of related goods exceeding 820 billion yuan, benefiting more than 110 million people.
Meanwhile, elevator retrofitting and equipment renewal in elderly care institutions have also been included in this year's subsidy range. From the first two batches of funds, support has already been provided for the upgrading of 194,000 old residential elevators.
In the future, the National Development and Reform Commission, along with other departments, will continue promoting policy benefits to reach consumers more fairly, conveniently, and in a standardized manner.
"Funds will be allocated in an orderly manner. By the end of June, the full list of this year's 200 billion yuan equipment renewal projects and the third batch of 62.5 billion yuan in consumer goods trade-in subsidies will be issued. Project and fund supervision will be strengthened, with continuous improvement of the full-chain regulatory mechanism, and strict action will be taken against illegal practices such as raising prices before subsidies and fraudulent or exploitative subsidy claims," said Li.
China's 3rd batch of trade-in funding to distributed by end of June: spokeswoman
Iran's Supreme Leader Mojtaba Khamenei said on Thursday that despite having a different view, he granted the permission for signing a peace memorandum of understanding (MoU) between Tehran and Washington.
He made the remarks in a message addressed to Iran's people, which was carried by Iranian media, hours after Iranian President Masoud Pezeshkian and his U.S. counterpart, Donald Trump, signed the MoU on ending the war.
Khamenei said the officials in charge made extensive efforts out of "sincere concern and goodwill" in the course of reaching this stage, adding, "Of course, it was the American president who, out of desperation, used all kinds of leverages to bring this about."
He stressed, "I, as a matter of principle, hold a different view; However, out of the commitment that the esteemed president -- as the head of the Supreme National Security Council -- gave to me on his own behalf and on behalf of the other members regarding the safeguarding of the rights of the lranian nation and the Resistance Front, and his explicit acceptance of that responsibility, I granted my permission."
Khamenei added that Pezeshkian and other SNSC members had also stated that if the United States seeks to make "excessive demands," they will not submit to them.
He emphasized that from this moment on, he and the "proud" Iranian nation will wait for the realization of the conditions set by Iran under the MoU, noting, however, that "the in-person negotiations that will take place in the future will not mean acceptance of the enemy's position."
Iran, the United States and Pakistan early Monday announced the finalization of the MoU to end the war on all fronts, including Lebanon. The Iranian and U.S. presidents signed the MoU electronically early Thursday.
On Feb. 28, Israel and the United States launched joint attacks on Tehran and other Iranian cities. Iran responded with waves of missile and drone attacks targeting Israel and U.S. bases and assets in the region.
Iran's supreme leader says granted permission for MoU with U.S. despite having different view
