China's e-bike trade-in program drives 370 million USD in new sales

China's electric bicycle trade-in program has generated robust sales in early 2025, with over 1 million vehicles traded in during January and February, the Ministry of Commerce said on Monday.

The program facilitated the trade-in of approximately 1.019 million e-bikes in the first two months of 2025, driving new vehicle sales worth 2.66 billion yuan (US$370 million).

According to data from the ministry, the initiative has led to a total of 2.4 million old e-bikes being traded in for an equal number of new ones purchased through the trade-in program since its implementation last year, generating about 6.4 billion yuan in new sales.

The e-bike trade-in scheme renewed its momentum after five government departments, including the Ministry of Commerce, issued a joint notice in January extending the program.

So far, the initiative has attracted participation from more than 40,000 retail outlets, primarily individual businesses and small enterprises, indicating growing market enthusiasm.

February saw a particularly strong performance, with 863,000 units traded in, surpassing the previous monthly record of 732,000 units set last year. This acceleration suggests the program is gaining traction across the country.

The ministry has emphasized its commitment to advancing the e-bike trade-in initiative, describing it as a policy that addresses multiple objectives, including stimulating consumption, promoting long-term development and benefiting consumers' daily lives.

Early in January this year, China announced a raft of measures to expand the scope of the consumer goods trade-in program amid efforts to boost domestic demand and spur economic growth.

Under the expanded program, categories of home appliances eligible for government subsidies have been increased from eight in 2024 to 12 in 2025. Consumers can also enjoy subsidies of up to 500 yuan apiece while purchasing digital products such as mobile phones.