On December 31, 2024, the Department of Commerce of Hainan Province issued an announcement regarding the transition arrangements for the 2025 consumer trade-in subsidy policy. According to the announcement, starting January 1, 2025, Hainan will continue to implement subsidy policies for home appliances, home decoration and furniture, as well as vehicle scrapping and replacement, car trade-ins, and electric bicycle trade-ins.
To ensure a seamless policy transition, the announcement outlined the details of the trade-in subsidy program in Hainan from January 1, 2025, until the release of the official policy documents for the 2025 consumer trade-in initiative.
For home appliances and home decoration/furniture subsidies: orders completed in 2024 must have invoices issued by January 7, 2025. Home appliances must be delivered and installed by February 28, 2025. Home decoration and furniture products must be delivered and installed by March 31, 2025. From January 1, 2025, until the release of the 2025 policy documents, the scope and standards of subsidized categories will follow the 2024 policy. Consumers will continue to enjoy subsidies in the same manner as in 2024. Businesses participating in the subsidy program must issue invoices within three days after the completion of the transaction.
For vehicle scrapping and replacement subsidies: from January 1, 2025, until the release of the 2025 policy documents, the subsidy conditions and standards will remain consistent with the 2024 policy. The start date and application process for subsidies will be clarified after the national policy is announced.
For car trade-ins and electric bicycle trade-ins: from January 1, 2025, to January 31, 2025, the subsidy standards, conditions, and application procedures will follow the 2024 policy. The deadline for consumers to obtain relevant application materials and submit subsidy applications will be extended by 30 days. Starting February 1, 2025, the 2025 policy will take effect.
The announcement clarified that once the 2025 policy documents are officially issued and implemented, the new regulations will apply.