China's digital product market has received a major boost as the Ministry of Commerce rolled out a nationwide subsidy program on Monday, providing a 15 percent discount on eligible products, including smartphones, tablets, and smartwatches, which has fueled a surge in orders.
The new subsidy program, announced by the Ministry of Commerce on Jan. 15, gives a 15 percent discount on the sales price of eligible digital products priced below 6,000 yuan (around 835 U.S. dollars) per item. Each consumer can receive a maximum subsidy of 500 yuan (about 70 U.S. dollars) per product, with a limit of one subsidized item per category.
The subsidy program, which covers digital products such as smartphones, tablets, smartwatches, and wristbands, has ignited a wave of consumer excitement, driving a sharp increase in production orders across the industry. It has been implemented in 29 regions across China, including Beijing, and will gradually be rolled out in other places.
In Beijing, a leading digital products store is offering subsidies on over 400 products from multiple brands, providing customers with a wide range of options to take advantage of the discount.
The store sold 20 mobile phones within just two hours on Monday, a testament to the intense consumer interest in the subsidized products.
"We have prepared sufficient stock, with the stock volume being five times the usual level," said Liu Jincheng, staff member at the digital product store.
In Changxing County, east China's Zhejiang Province, mobile phone shops were bustling with buyers on Monday, many of whom were eager to take advantage of the subsidies to purchase their desired products.
"The total discount amounted to over 1,000 yuan (about 137 U.S. dollars), which is enough for me to buy a watch. The discount is quite generous," said Xu Siyan, one of the customers.
China's digital product market sees surge in sales as subsidy program takes effect
Ningbo Zhoushan Port in east China's Zhejiang Province is demonstrating resilience in the face of U.S. tariffs by launching new trade routes and adapting swiftly to evolving market demands.
Ningbo, a hub for international trade, has further strengthened its position by embracing innovative solutions such as direct maritime routes and enhanced connectivity to Europe.
Building on this resilience, Ningbo Zhoushan Port unveiled the "China-Europe Express" in December 2024, a direct maritime route to Europe offering seamless "point-to-point" service. This innovation not only slashes shipment times but also reinforces the port's adaptability to global trade challenges.
"Previously, cargo shipped from Hefei City in east China to Europe went through the China-Europe Railway Express or traditional sea routes, which took about 40 days. Now, it only takes 27 days on the Anhui-Ningbo-Europe express route," said Gu Xuhui, marketing director for Zhejiang Seaport Logistics.
The express route connects the "China-Europe Express" with a freight railway from east China’s Anhui Province to facilitate more exporters.
Europe has become one of the major destinations for the port.
"Between January and April, we handled 1.31 million twenty-foot equivalent units (TUEs), up six to seven percentage points year on year," said He Binli, vice manager of Operations with Ningbo Daxie Container Terminal.
While the port is fully prepared for potential foreign trade fluctuations, exporters in the city are also shifting their focus to other markets.
Xu Ziyang, a seasoned medical equipment exporter, began preparing as early as 2017, driven by concerns over U.S. President Donald Trump’s policies towards China.
"[U.S. tariffs] have had little impact on us. In fact, we started adjusting back in 2017 to 2019, during his previous term. We aligned with China’s national strategy to expand into Belt and Road countries, as well as South American and African markets," said Xu, general manager of Ningbo Greeted Medical Instruments.
Xu’s sales jumped by 12 percent in 2024, and he expects continued growth this year.
Ningbo Zhoushan Port demonstrates resilience amid trade challenges