Last year's consumer goods market showed robust momentum, with trade-in program sales surpassing 2.6 trillion yuan. The breakdown was striking: over 11.5 million automobiles were replaced, home appliance upgrades hit 129 million units, digital products accounted for 91 million transactions, while home decoration and kitchen equipment saw 120 million units sold. These figures paint a picture of sustained domestic consumption strength—a macro indicator worth tracking. When traditional consumer spending remains elevated, it often signals broader economic resilience, which typically influences institutional capital allocation across asset classes. The scale of these transactions underscores the underlying demand in emerging markets and the continued importance of consumer-driven growth cycles.