Chongqing Unveils New Subsidies to Boost Consumer Spending and Quality of Life

Chongqing—On December 16, Chongqing unveiled new subsidies to boost consumer spending and improve quality of life. The initiatives, which include vehicle trade-ins, appliance and furniture exchanges, e-bike upgrades, and subsidized home renovation loans, were announced at a press conference at Far Eastern City in Jiangbei District.

The vehicle scrappage program, which runs from April 24 to December 31, 2024, offers a 20,000 yuan (about 2,746 USD) subsidy for consumers who scrap old passenger vehicles with National III or lower emissions or outdated NEVs and buy a new NEV. A 15,000 yuan subsidy is available for those scrapping old fuel-powered vehicles and purchasing a new passenger vehicle with a 2.0-liter engine or less. Subsidies do not apply when scrapping NEVs to buy fuel-powered vehicles.

On-site of the "Spokesperson is Here" - "Consumer Confidence" Policy Interpretation and Release Event. (Photo/Chen Yuting)

According to Du Ke, Deputy Director of the Promotion Office at the Chongqing Municipal Commission of Cultural and Tourism Development, over 200 cultural and tourism initiatives were implemented this year, driving total visitor spending to 355.3 billion yuan in the first three quarters, a 15.7% year-on-year increase. 

Winter highlights include over 150 cultural tourism activities and 80 curated routes across districts and counties. As the "World Hot Spring Capital," Chongqing has launched a promotional campaign called "A Hot Spring Rendezvous," showcasing wellness, leisure, cultural experiences, and health tourism offerings. 

Additionally, the city partnered with Amap to launch the "Chongqing Flavors 360" gourmet map, which provides personalized dining guides. During the Cultural Tourism Consumption Season, a special subsidy package of 20 million yuan in ride-hailing coupons was also introduced to make travel across Chongqing more convenient.

Huang Jue, Deputy Director of the Chongqing Jiangbei District Commission of Commerce, highlighted efforts to co-host the National Consumer Goods Trade-in Campaign and launched the 2024 Chongqing Nightlife Festival. The campaign kicked off with an immersive night market at Guanyinqiao Pedestrian Street, blending leading brands in automotive, home appliances, and furniture with innovative lifestyle experiences.

By December 15, Jiangbei District recorded 104,031 appliance sales totaling 570 million yuan, with over 104 million yuan in subsidies disbursed. Furniture sales reached 35.54 million yuan across 6,078 transactions, with subsidies amounting to 5.09 million yuan. Jiangbei’s appliance sales currently rank first citywide.