In 2024, China’s green appliance market is experiencing robust growth, largely fueled by the government’s trade-in policy for old appliances. Through subsidies and incentives, consumers are not only reducing their household energy expenses by upgrading to energy-efficient and environmentally friendly appliances, but they are also driving a green transformation in the home appliance industry.
In recent years, there has been a strong demand for green appliances in the Chinese market, especially with the support of government policies that have made green products the preferred choice for many consumers. For example, in Qingdao, the city’s commerce bureau, in collaboration with multiple departments, launched the "Implementation Plan for Promoting Trade-In of Consumer Goods," which features substantial subsidies for green appliances. Consumers can receive up to 2,000 yuan in subsidies for each appliance they trade in, further stimulating the demand for energy-efficient products.
This policy has not only achieved remarkable success in Qingdao but has also been adopted by other cities, including Beijing, Changsha, and Chengdu, where home appliance companies have initiated similar trade-in programs. Leading appliance manufacturer Hisense has launched a "National Trade-In Campaign" across ten cities, providing additional discounts to consumers on top of government subsidies, aimed at enhancing consumer experience and promoting the adoption of green appliances.
The success of the trade-in policy in the appliance market is supported by multiple factors. Firstly, the policy significantly reduces the purchasing cost of green appliances through financial subsidies, making high-efficiency products the preferred choice for consumers. Statistics show that over 90% of consumers participating in trade-in programs opt for first or second-tier energy-efficient appliances, indicating an unprecedented demand for environmentally friendly products.
Secondly, the implementation of the policy aligns with the green transition trend in the appliance industry. As consumer awareness of environmental issues increases, green appliances are favored for their low energy consumption and high efficiency. Many appliance manufacturers are seizing this opportunity to innovate technologically, launching a range of products that meet national energy-saving standards. For instance, smart air conditioners and refrigerators not only reduce energy use but also offer consumers a more convenient smart experience through technologies like the Internet of Things and big data.
In introducing the trade-in policy, the Chinese government has also closely tied it to the country's "dual carbon" goals. This initiative allows consumers to enjoy economic benefits while contributing positively to energy conservation and environmental protection. The trade-in policy effectively accelerates the elimination of high-energy, low-efficiency appliances, thereby reducing carbon emissions. According to calculations by the Beijing Green Exchange, replacing a single refrigerator can reduce approximately 30 kilograms of carbon emissions, an environmental benefit widely recognized by society.
Moreover, appliance manufacturers are rapidly developing green supply chains under this policy. Companies like Gree are continually exploring energy-saving technologies, introducing products such as high-efficiency chillers that align with the industry’s development trends under the dual carbon goals. By implementing a comprehensive green transformation from production to recycling, the appliance industry is leading a low-carbon revolution.
Despite the significant successes of the trade-in policy, the recycling and utilization of old appliances remain critical components of the entire industry chain. Currently, China's appliance recycling system has some shortcomings, particularly in recycling efficiency and the standards for handling discarded appliances that need further improvement. Industry experts point out that appliance recycling is not only part of the industry chain but also relates to resource recycling and enhancing environmental benefits.
To facilitate the efficient operation of appliance recycling, both the government and enterprises need to strengthen supervision and guidance. Policies can further clarify the standards for appliance recycling and support the technological innovation of recycling companies to enhance the resource reuse rate of old appliances.
Driven by policies, market demand, and technological advancements, the green appliance market is expected to experience explosive growth in the coming years. Government subsidies are not only lowering the costs for consumers looking to upgrade but also guiding enterprises to accelerate the research and development of green appliances.
It is anticipated that as consumers' awareness and demand for energy-saving and environmentally friendly appliances continue to grow, green appliances will become mainstream. Through the trade-in policy, the appliance industry is undergoing a comprehensive transformation from traditional production models to green and smart development, providing solid support for China to achieve its dual carbon goals.