In 2024, Xi'an's market consumption showed gradual recovery, with the city's sales of consumer goods reaching 491.51 billion yuan ($67.45 billion), a 2.2 percent increase compared to the previous year.

Consumers learn about the car trade-in policy at a 4S store in Xi'an. [Photo/Xi'an Daily]

The trade-in policy was a key driver behind this growth, significantly boosting consumption. Sales of new energy vehicles, smartphones, and household appliances with level one and two energy efficiency ratings increased by 27 percent, 78.2 percent, and 25.2 percent, respectively.

The number of test drives surged at the BYD Yitong 4S Store in Xi'an. Last year, Xi'an enhanced subsidies for vehicle trade-ins, leading to a 30 percent increase in the store's foot traffic during weekdays. In particular, home test-drive services have become highly popular, with some hot-selling models now in short supply.

Xi'an has actively followed provincial directives to promote consumption upgrades through the trade-in policy, focusing on automobiles, home appliances, home furnishings, and electronics. In 2024, the city distributed 3.3 billion yuan in subsidies, benefiting 2.81 million consumers and directly driving 44.8 billion yuan in consumption.

This year, Xi'an has introduced a new plan, expanding the trade-in program to cover five key sectors: automobiles, home appliances, electronics, electric bicycles, and home renovation. With increased support and efficiency in policy implementation, the city aims to maximize the impact of this initiative in stimulating consumer spending.