China has allocated 62.5 billion yuan (about 9.1 billion U.S. dollars) in new ultra-long special treasury bonds to fund consumer goods trade-in programs in 2026, according to the country's top economic planner.

This marks the second batch of funds raised through such bonds for the programs this year, and has been earmarked to various regions recently, the National Development and Reform Commission (NDRC) said in a statement.

The NDRC said it will provide further guidance to local regions to optimize fund utilization plans, strengthen supervision, standardize subsidy applications and reviews, and crack down on fraudulent practices.

In late December 2025, the first batch of funds raised through ultra-long treasury bonds carrying the same value was allocated for the year 2026 to support the trade-in programs aimed at boosting consumption.

The government plans to allocate a total of 250 billion yuan in ultra-long special treasury bonds to support trade-in programs in 2026.

Government data showed that sales of consumer goods under China's policy-backed trade-in programs exceeded 2.6 trillion yuan in 2025, benefiting over 360 million people.