As a component of China’s energy conservation and emission reduction policy framework, the China Energy Label is crucial for advancing energy-efficient technologies and boosting sales of related products. This study comprehensively examines China’s energy labeling policy portfolio, which includes the Energy-Efficiency Label Management Approach, financial subsidies, and “top runner” programs. To assess the effectiveness of this policy portfolio, we analyze its impact on household appliance electricity consumption. Our analysis indicates that the China Energy Label actively slowed residential electricity consumption growth from 2007 to 2010. However, its effectiveness was less satisfactory between 2011 and 2012. This article explores the underlying reasons and proposes countermeasures to address these issues. Furthermore, to enhance the long-term effectiveness of the China Energy Label, we offer policy recommendations for its successful implementation.