The Ministry of Commerce will implement and advance special actions to unleash consumption potential and boost consumer spending in 2025, officials said at a press conference on Wednesday. 

On Jan. 15, 2025, the State Council Information Office holds a press conference in Beijing about promoting high-quality development through commerce work. [Photo by Liu Jian/China SCIO]

Following last year's national initiative of promoting consumer goods trade-ins, the central government has recently earmarked 81 billion yuan (US$11.1 billion) to further support the program this year, said Li Gang, an official of the ministry. More policy details supporting trade-ins for automobiles, home appliances, and digital products are expected to be announced soon, he added.

Trade-in policies have injected vitality into the consumer market in 2024, improving people's lives and promoting green and sustainable development, Li said. These policies led to over 1.3 trillion yuan in sales revenue of related consumer goods in 2024. More than 6.8 million vehicles, 56 million home appliances, 60 million kitchen and bathroom facilities, and over 1.38 electric bikes were sold thanks to the policies last year. 

In addition to trade-in programs, a wide range of consumption promotion events will be organized across the country this year, Li said. As the Spring Festival approaches, online and offline events promoting festive goods are gaining popularity. 

The Ministry of Commerce launched a month-long online campaign for Chinese New Year consumption last week, coordinating efforts from various regions and platforms across China to boost festive dining, shopping, entertainment, and tourism. 

The Yuyuan Garden Lantern Festival takes place in Shanghai on Jan. 1, 2025. (Photo/Xinhua) 

Optimizing consumption environment is another key initiative for the year, Li said. The ministry will focus on building international consumption center cities, upgrading facilities of pedestrian streets and commercial districts, and advancing the three-year action plan for county-level commerce. 

With more supportive measures coming into effect, consumer spending in China is expected to maintain a steady growth momentum in 2025, Li said.