According to the Ministry of Commerce, as of December 18, a total of 41,000 retail outlets across China have participated in the national electric bicycle trade-in program. Cumulatively, 3,534 promotional events have been held, with 1.003 million old vehicles traded in and 1.003 million new vehicles purchased, driving new vehicle sales of 2.67 billion yuan.

01. "Two New" Policies Unleashing Domestic Demand Potential

From a chronological perspective, in March, the State Council issued the Action Plan for Promoting Large-Scale Equipment Upgrades and Trade-In of Consumer Goods;

In July, the National Development and Reform Commission and the Ministry of Finance jointly released the Measures for Strengthening Support for Large-Scale Equipment Upgrades and Trade-In of Consumer Goods;

By late September, all supporting rules for the "Two New" initiatives were fully introduced, government bond funds were fully allocated, and the supporting policies were officially implemented.

 The "Two New" policies bridge supply and demand by covering all stages from production and distribution to circulation and consumption. They are a key focus of this year's economic agenda and serve as an important lever for expanding domestic demand and stimulating growth. With the rollout of the new national standards for electric bicycles and the gradual release of the trade-in policy’s effects, many regions are experiencing a minor sales peak in electric bicycles, and the market is steadily warming up. 

02. Avoiding "Bad Money Driving Out Good", Trade-In for Safer and Smarter Riding

Safety is a key consideration in the electric bicycle trade-in policy. By encouraging consumers to replace outdated, non-compliant vehicles with models that meet the new national standards, and by promoting the shift from lithium to lead-acid batteries, the policy helps phase out potentially hazardous vehicles. This initiative not only improves overall riding safety but also better protects the lives and property of all road users.

"Replacing old with new" should also mean upgrading to smarter technology. Intelligent features are increasingly becoming standard on electric bicycles. The "old for new" policy not only accelerates the replacement of unsafe vehicles but also drives the upgrading of the consumer market and industry ecosystem. Functions like vehicle location tracking, mobile app integration, and keyless unlocking are quickly becoming standard on electric bicycles. Major brands are actively investing in these technologies, and prices have dropped significantly, with new models equipped with these intelligent features now available for just over 2,000 yuan.

Although the vehicle trade-in policy once faced skepticism from some internet users, under the comprehensive regulations of five government departments and strict penalties for practices like "raising prices before offering subsidies,"  consumers have genuinely benefited. As many local subsidy programs are set to end by the end of the year, those in need are encouraged to make their purchases as soon as possible.

03. The large-scale "trade-in for new" of electric bicycles: Where are the sources of shipments and sales destinations?

On December 2, one month after the implementation of the "new national standard," a logistics platform released several freight rankings for electric bicycles. According to data published by Yunmanman, from January 1 to November 30, 2024, in terms of shipment volume, Jiangsu, Tianjin, Shandong, Zhejiang, and Guangdong were the leading provinces. The top five cities in terms of shipment volume were Tianjin, Wuxi, Xuzhou, Linyi, and Changzhou.

In terms of receiving volume, Jiangsu, Shandong, Guangdong, Henan, and Hebei are the leading provinces. These areas are mostly plains with dense populations, making electric bicycles a convenient mode of transportation.

It is worth noting that with the upgrading of batteries and overall technological advancements, the number of electric bicycles in the southwestern regions, such as Tibet, Yunnan, and Guizhou, has been gradually increasing. These three provinces ranked among the top three in terms of receiving volume growth during the Double Eleven shopping festival compared to the same period last month.

Summary: While enjoying the benefits of the policy, consumers should also remain rational. After the implementation of the new national standard, electric bicycles without valid certification will not be able to be registered. Therefore, when purchasing a vehicle, consumers must carefully check the vehicle's documents and related certifications to ensure the quality and safety of the bicycle.