Over 108 million smart devices have been eligible for subsidies, and sales of communications equipment climbed 27.3% year‑on‑year in August, according to the Commerce Ministry. The 15% subsidy, capped at 500 yuan per item, lets buyers of a 3,000‑yuan AI glass pocket a 450‑yuan discount, nudging them toward high‑efficiency tech.
Huawei and Xiaomi are already capitalising; both firms have doubled their AI‑enabled device output this year, while Shenzhen‑listed Goertek projects smart‑glass sales as its fastest‑growing segment. The programme even extends to foreign brands: Apple iPhones priced under 6,000 yuan qualify for the same 15% lift, a move that keeps global competitors in the domestic race.
Electric‑vehicle buyers can snag up to 12% off new models, capped at 20,000 yuan, a benefit that Tesla leverages alongside its own price cuts. Nonetheless, the auto market remains fiercely contested, and domestic demand for cars still lags behind exports.
GDP ticked up 4.5% YoY in the July‑September quarter, yet retail sales barely nudged 0.4% in August and only 1.1% in September—figures that belie the 4.6% growth over the first nine months. Falling property investment and a lingering real‑estate slowdown have dampened household confidence, leaving consumers wary.
Facing a two‑speed economy, Beijing will convene a policy review next month to decide whether to raise the subsidy ceiling or broaden eligibility, aiming to stir a more resilient domestic spending wave.