Unveiling the new round of trade-in policies in China: an “objectives-tools-targets” analysis framework

Abstract

Trade-in policies play an important role in advancing sustainable consumption in China, but their sustained effectiveness still faces obstacles. This study constructs a trade-in policy mix analysis framework, which integrates the three dimensions of policy objectives, tools and targets. Using high-frequency word extraction, content analysis, and the policy modeling consistency index (PMC-index) model, this study examines the advancements and weaknesses of China’s new round of trade-in policies. The results indicate that the new round of trade-in policies places stronger emphasis on green low-carbon circular development objectives, employs a more diversified set of policy instruments, and extends its scope to cover the whole life cycle of products. The study further finds that the new round of trade-in policies exhibits considerable room for improvement in achieving low-carbon development objectives. Supply-based tools effectiveness demonstrate relatively weak performance, particularly in the case of pilot cultivation. In addition, the new round of trade-in policies provides inadequate support for reverse logistics and remanufacturing. In response, this study proposes a set of optimization strategies to assist policymakers in refining trade-in policies and promoting sustainable consumption.