ab 31 December 2025 Global Research First Read China Consumer Appliances Sector 2026 home appliances trade-in subsidies and our thoughts What's new? On December 30, NDRC and Ministry of Finance announced the 2026 large scale renewal of equipment and consumer goods policies. The release date was slightly ahead of our expectation (the 2025 version was released on January 8, 2025). Overall, we think this release is largely in-line with market expectation, with white goods and smart home products being the majo ...