China’s commerce ministry said consumer goods trade-in programs generated more than 433.2 billion yuan ($60 billion) in sales in the first quarter, benefiting over 60 million consumers. Auto trade-ins accounted for 228.7 billion yuan, with 1.41 million subsidy applications boosting new car sales. Home appliances, digital and smart products contributed 204.5 billion yuan, with total sales of 59.5 million units, the ministry said.

In March 2026, the RatingDog China Services PMI rose to 52.1, marking the 39th consecutive month of expansion. Growth moderated from February, with solid domestic demand supporting new business, while export orders declined after a prior surge. Employment fell for a second month as firms cut costs. Input pressures remained mild, enabling price cuts. Business confidence stayed positive, with the services sector expected to remain in expansion near term.

歐洲央行管委Radev：應利用有利的融資條件做好準備。