Discussion keeps the world turning.
This is Roundtable.
From the heart of Beijing to the edges of the global stage, you are at Roundtable.
I'm Ye Honglin.
Have you placed an order with the 2026 consumer goods trade in subsidies yet?
From the consumer's perspective, this subsidy feels simple.
Claim a cold, place an order, enjoy the discount.
Behind that simplicity, however, sits a complex system, coordinating central funding,
local execution, and of course, digital platforms, as well as real-time verification.
So today, let's dive into the fund subsidy economics.
For this show, I am joined by Steve Hatherly and Fei Fei.
Now pull up a chair and join the conversation.
For people in China, midnight on January 1st was not just about welcoming the new year.
It's also about a moment of excitement, with fingers hovering over screens ready to place orders.
Phones, fridges,
even electric cars were all discounted under the country's newly upgraded national subsidy.
Just two weeks in, the crowds are real, the numbers are big, and the energy is high.
How do Chinese consumers spend in the beginning of 2026?
And what's with this new national subsidy?
What's new this time?