China's trade-in programs boost major home appliance sales

China's consumer goods trade-in programs have prompted major companies and e-commerce platforms to offer attractive incentives, driving significant growth in the sales of major home appliances and furniture.

In the city of Chengdu, capital of southwest China's Sichuan Province, a number of home furnishing and appliances companies have jointly launched a whole-home trade-in promotion. One home goods mall's "whole-home renewal" discounts have attracted a steady stream of customers.

"I just moved into a new house, and I'm here mainly to check out the whole-home package deals. The salesperson told me that I can get a discount of around 2,000-3,000 yuan (about 280-420 U.S. dollars) by trading in my old items, which is very helpful for me," said a local resident in the mall.

Beyond these home goods malls, some e-commerce platforms have also expanded their trade-in programs offline. An e-commerce mall in Chongqing Municipality neighboring Sichuan is offering up to 20 percent off for trading in old products, as well as promotions like "buy two, get one free" for home appliances.

"Other recyclers only give me a few dozen yuan for my old fridge, which doesn't seem worth it. But the fridge deal offered by the mall can get me at least 400 yuan for the trade-in, which I think is pretty substantial," said a Chongqing resident named Huang Xi.

Data from the Ministry of Commerce shows that China's online retail sales reached 7.1 trillion yuan in the first half of this year, up 9.8 percent. Digital products, service consumption, and trade-in programs have become new growth points. E-commerce platforms have enabled over 400,000 product trade-ins across more than 300 categories, with fridge, washing machine, mobile phone and TV trade-in growth reaching 82.1 percent, 70.4 percent, 63.9 percent and 54.3 percent, respectively.

"During this year's 618 (June 18) Mid-Year Shopping Festival, with the support of the trade-in programs, over 700 home appliance and furniture brands saw their sales double year-over-year. Air conditioner trade-ins had the highest growth, surpassing 200 percent quarter-over-quarter," said Sun Jian, manager of an e-commerce store in Chongqing.

China's trade-in programs boost major home appliance sales

Starting this year, the China International Fair for Trade in Services (CIFTIS) will feature a fixed schedule and venue, with a focus on showcasing cutting-edge technologies such as AI and humanoid robots, as announced during Thursday’s press conference in Beijing.

The 2025 CIFTIS will be held from Sept 10 to 14 at the Shougang Park in Beijing. This year's fair will highlight the latest trends in service trade development and will hold a global service trade summit, exhibitions, forums, business negotiations, achievements releases, among other supporting activities.

"In order to further stabilize the expectations of exhibitors and visitors, starting from this session, the CIFTIS will be held annually on the Wednesday of the second week of September, lasting for five days. The venue will also be permanently fixed at the Shougang Park," said Yin Liang, deputy director of the Beijing International Trade in Services Affairs Center.

Australia, as the guest of honor, will form the largest service trade delegation since the launch of CIFTIS.

Over 30 countries and international organizations, including Norway, Japan, and the World Intellectual Property Organization, have expressed their intention to set up exhibitions and hold events. Among them, Canada will participate for the first time by setting up an online exhibition under its government's name.

"In terms of thematic exhibitions, this year's CIFTIS will continue the nine major themes from previous years while aligning with the development trends of service trade. The focus will be on showcasing solutions in the service trade sector, highlighting technologies and applications such as AI and humanoid robots, and promoting Chinese service products and brands," said Yin.

Beijing's CIFTIS unveils schedule, venue for future editions