BEIJING - China's consumer goods trade-in program has yielded impressive results, generating 1.1 trillion yuan (approximately 153.1 billion U.S. dollars) in sales during the first five months of 2025. The Ministry of Commerce reported that the program has stimulated considerable activity nationwide, resulting in 4.12 million vehicles, 77.62 million units of household appliances, and 56.63 million digital products, including mobile phones, being traded in.

This initiative aligns with China's broader strategy to enhance domestic demand, contributing to a sustained recovery in consumer spending.

In the government work report published in March 2025, boosting consumption was emphasized as a primary objective for the year.

Retail sales of consumer goods, a crucial metric indicating consumption strength, rose by 4.7 percent year on year in the first four months of 2025, demonstrating an uptick from the 4.6 percent growth in the first quarter.

Additionally, China's ports recorded notable growth in cargo throughput in the January-April period of 2025, with a total of 5.75 billion tonnes, reflecting a year-on-year increase of 3.7 percent.

Container throughput, a key indicator for trade health, surged by 7.9 percent, totaling 110 million twenty-foot equivalent units (TEUs).

The growth in April alone saw cargo throughput reach 1.53 billion tonnes, marking a 4.8 percent increase from the previous year.

The manufacturing sector also showed signs of resilience, with the purchasing managers' index (PMI) rising to 49.5 in May from 49 in April, signaling improvement in manufacturing activity.

An increase in the production sub-index to 50.7 indicates accelerating output, while new orders saw a rise to 49.8. Specifically, large enterprises experienced a resurgence, with their PMI recovering to 50.7, suggesting strengthening market conditions.

High-tech manufacturing maintained its expansion for the fourth consecutive month, achieving a PMI of 50.9. The confidence of manufacturing enterprises appeared robust, as reflected in the production and business activity expectation index, which rose to 52.5. On the expansion of the services sector, the non-manufacturing PMI remained in positive territory at 50.3, bolstered by tourism and catering consumption during the recent May Day holiday.

In international trade efforts, Chinese Commerce Minister Wang Wentao and Bangladeshi Commerce Adviser Sheikh Bashir Uddin met in Dhaka to discuss enhancing trade cooperation.

The meeting, coinciding with the 50th anniversary of diplomatic relations, aimed to deepen economic ties through agreements on trade facilitation and e-commerce, particularly focusing on boosting Bangladesh's export capacity.

A significant milestone occurred with the first-ever shipment of Bangladeshi mangoes arriving in Changsha, China, marking a new chapter in agricultural trade between the two nations.

This shipment follows a long-standing trend, as China continues to be Bangladesh's largest trading partner for 15 consecutive years.

Looking toward future trade developments, the Hainan Free Trade Port, a central aspect of China's approach to open trade, is set to commence independent customs operations by the end of 2025. Post the release of a master plan in June 2020, various policies aimed at creating a foreign investor-friendly environment have been enacted, facilitating seamless customs clearance and lowering operational costs for enterprises.