Officials said on Wednesday that 81 billion yuan (£8.9 billion; $11 billion) had been earmarked for the consumer goods exchange scheme this year.
China’s top economic planning body said the schemes, which were launched in March, had already produced “visible effects”.
According to the country’s Ministry of Commerce, this policy has increased sales of major goods such as home appliances and cars.
But some economists doubt whether these schemes will be enough to significantly boost consumer demand.
Chinese economist Deng Wang said that “this measure is far from enough to increase consumption.”
“While it has supported sales of some listed goods such as cars and home appliances, it has not led to an overall increase in spending,” said Harry Murphy Cruz, head of China economics at Moody’s Analytics.
In recent months, China has taken additional measures to support its domestic economy as the country’s exporters face mounting challenges.
In December, a key meeting of China’s leaders emphasized the need for “vigorous” efforts to boost consumer spending.
It comes as President-elect Donald Trump, who is due to return to the White House this month, threatened to introduce a 60% duty on Chinese-made products.
Next week, China is due to announce economic growth figures for 2024, which Beijing has said it expects will be around 5%.
