Overview
- Beijing pre-allocated the first 62.5 billion yuan in ultra‑long special bonds to localities, with consumer trade‑in funds shared on a 9:1 central‑local basis and regional central shares set at 85%/90%/95%, and unused central funds recoverable after December 31, 2026.
- Home appliances and digital/smart products receive 15% purchase subsidies with per‑item caps—1,500 yuan for designated appliances and 500 yuan for phones, tablets, smart wearables and smart glasses—with smart home products included per local standards.
- Auto subsidies shift to price‑proportion formulas: scrappage plus purchase yields 12% for new energy cars (cap 20,000 yuan) or 10% for ≤2.0L fuel cars (cap 15,000 yuan), while replacement yields 8% (cap 15,000 yuan) and 6% (cap 13,000 yuan) respectively, with eligibility based on older vehicle registration cutoffs detailed by the Commerce Ministry.
- A nationwide platform linking commerce, industry, police and tax data sets service targets of 3 working days for acceptance, 15 for review and 30 for payout, with one‑time eligibility per buyer and equal access rules backed by strict anti‑fraud enforcement and fund recovery.
- Industry group CPCA forecasts a January sales lift under the new incentives, while regulators disclosed major recalls including 38,473 Changan Ford Focus-class sedans for fuel hose defects, over 22,000 Honda vehicles for control‑software updates, and 1,045 imported VW Touareg PHEVs for battery risks starting March 20, 2026.