One Yuan Leverages 10.3! China's Trade-In Program Is Eating the Global Appliance Market

       China's consumer goods trade-in program has become one of the most powerful demand-generation tools in recent history — and global appliance brands are paying close attention.
       According to the Ministry of Commerce, in the first half of 2026 alone, the program drove RMB 1.1 trillion ($151 billion) in sales, benefiting 150 million consumers. For every RMB 1 of government subsidy invested, RMB 10.3 in consumer spending has been generated — up from RMB 7.8 last year, indicating the policy's effect continues to amplify. 632.66 million home appliances were traded in during H1 2026, with Grade 1 energy-efficient appliances now accounting for over 90% of trade-in sales — showing that Chinese consumers are not just replacing old units, but upgrading to the best available technology on a massive scale.
       The same green logic is rewriting the global appliance map. Chinese air conditioner brands now hold a 41% share of the European market, up from 27% in 2023, surpassing Japanese and Korean brands as the region's largest supply source. In H1 2026, China's AC exports to the EU hit $3.76 billion, up 43.2% year-on-year. Portable air conditioners — designed specifically for Europe's rental-heavy housing stock and strict building regulations — have been a standout success. Midea's PortaSplit shipped over 200,000 units to Europe in H1, doubling last year's volume.
       The policy machine is still running hot. RMB 250 billion in ultra-long special treasury bonds have been allocated for the full year, with a fourth batch of RMB 62.5 billion expected around the National Day holiday in October, timed to capture the peak "Golden September, Silver October" shopping season and the Singles' Day e-commerce rush. This means appliance demand will remain strong through the second half of 2026.
       For international partners, the signal is clear: the green premium is real, portable product formats are winning, and China's market has shifted from "selling more" to "selling better." Brands that can compete on energy efficiency and smart features stand to benefit from China's upgrading wave.
       Sources: Ministry of Commerce, Ember, General Administration of Customs