China to continue trade-in subsidies in 2026 to stimulate auto consumption
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China will continue its trade-in subsidies in 2026 to stimulate auto consumption, maintaining the subsidy caps from 2025 but adjusting implementation details. The National Development and Reform Commission and Ministry of Finance announced that fixed-amount subsidies will be replaced with percentage-based subsidies. Consumers scrapping old vehicles for new energy or gasoline vehicles will qualify for subsidies of up to RMB 20,000 for new energy vehicles and RMB 15,000 for gasoline vehicles. A total of RMB 62.5 billion has been allocated to support this initiative, which also includes home appliances and digital products.
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