On July 22, the head of the Circulation Development Department of the Ministry of Commerce introduced the development of China's wholesale and retail industry from January to June 2025, stating that since the beginning of this year, the policy of exchanging old for new consumer goods has achieved significant results. Over 66 million consumers have purchased more than 109 million units of 12 major categories of household appliances for exchange, and over 69 million consumers have purchased more than 74 million digital products such as mobile phones. 82000 sales stores across the country have launched the policy of exchanging old for new electric bicycles, and a total of 9.056 million new cars have been exchanged. The above-mentioned person in charge also stated that in the first half of the year, domestic "trendy products" were very popular. Various regions continue to promote the 2025 'Time honored Brand Carnival', achieving direct sales of 2.78 billion yuan and driving online and offline sales of 11.62 billion yuan. According to platform enterprise data, from January to June, the dine in transaction volume of Chinese time-honored catering enterprises increased by 25.2% year-on-year. The wholesale and retail industry operates smoothly, and the growth trend of business formats is good. The above-mentioned person in charge introduced that from the perspective of wholesale industry, from January to June, the Ministry of Commerce focused on contacting the commodity market with a transaction volume of 2.8 trillion yuan. From the perspective of the retail industry, data from the National Bureau of Statistics shows that from January to June, the retail sales of goods reached 21.8 trillion yuan, a year-on-year increase of 5.1%. The retail sales of convenience stores, specialty stores, supermarkets, brand specialty stores, and department stores above designated size have all shown an increasing trend, with year-on-year growth of 7.5%, 6.4%, 5.4%, 2.4%, and 1.2%, respectively. The urban and rural markets remain active, and passenger flow and consumption are steadily increasing. The above-mentioned person in charge said that from January to June, the passenger flow and revenue of the 50 pedestrian streets (commercial districts) monitored by the Ministry of Commerce in China increased by 5.2% and 3.4% respectively year-on-year. As of now, a total of 5510 15 minute convenient living circles have been built in 210 pilot areas across the country, serving 125 million community residents. A total of 155000 commercial outlets of various types have been constructed and renovated in counties and rural areas nationwide. Business big data shows that from January to June, the online retail sales of rural areas in China increased by 6.2% year-on-year, and the online retail sales of agricultural products increased by 7.0% year-on-year. Wang Qing, Chief Macro Analyst of Dongfang Jincheng, predicts that there may be a significant increase in the amount of support for the trade in of consumer goods in the future, and the coverage of the trade in policy will continue to expand, further enhancing the effect of boosting consumption. (New Society)