(Yicai) Jan. 21 -- China's sales of mobile phones, tablets, and wearables soared on the first day after several regions launched trade-in programs.

Sales of mobile phones and tablets increased by three to five times yesterday when regions gradually began implementing the national subsidy program, according to data released by distributors and online platforms.

On Jan. 8, the State Council expanded its trade-in program to include handsets, tablets, and smartwatches or bands to further stimulate consumption. This means that buyers can get a discount of 15 percent on products costing up to CNY6,000 (USD825). Each consumer can purchase one item per product category, with the subsidy for each item capped at CNY500 (USD69).

Wu Xianjian, executive deputy secretary-general of the China Household Electrical Appliance Association, said that as of yesterday afternoon, 10 provinces and municipalities had announced implementation plans for national subsidies on home appliances, while 13 provinces and municipalities had done the same for mobile phone subsidies.

Manufacturers have been quick to seize the opportunity since several smartphone brands have reduced the prices of their high-end models to meet the CNY6,000 price cap.

Retailers are also chipping in as a Suning.Com store manager in Beijing told Yicai that the Chinese retailer has added its own subsidy to lower the prices of several models, including the Huawei Pura 70, Honor Magic 7 Pro, iPhone 16, and iPhone 16 Plus, to stay below CNY6,000.

Even e-commerce platforms are offering coupons. By combining Tmall coupons with the national subsidy, the price of the iPhone 16 Plus 128G has been reduced to CNY5,499 from the original CNY6,199.

The rush to stores demonstrates that buyers are willing to advance their upgrades when prices are attractive. JD.Com's mobile phone sales tripled yesterday from a month ago, tablet demand increased fourfold, and sales of smart children's watches doubled.

Suning.Com reported that foot traffic increased threefold yesterday compared to a year ago, mobile phone sales more than quadrupled, tablet sales surged by over five times, and sales of smartwatches and bands more than tripled.

Payment systems are expected to improve as more cities join the program. Many consumers reported temporary system crashes in point-of-sale payment systems yesterday, while industry insiders attributed the errors to varying levels of preparedness across regions.

Editor: Emmi Laine