The extensive usage of plastic bags has caused detrimental environmental damage, and an influx of research efforts have been undertaken to reduce people’s usage of plastic bags. However, studies regarding people’s reuse of plastic bags are still scarce. Therefore, this study is motivated to bridge this research gap by examining the determinants of old plastic bag usage and consumers’ maximum willingness to pay price for plastic carrier bags via a semi-structured online survey on a random sample of 777 Chinese consumers. Descriptive summary, KW test, and logistic regression were used to identify potential determinants and their influence on consumers’ usage of old plastic bags. The findings indicate that consumers’ age, altruistic values, and their perceived plastic ban effectiveness are positively associated with the usage of old plastic bags. Specifically, the elder and altruistic consumers who are positive for plastic ban effectiveness are more likely to reuse old plastic bags. Furthermore, when plastic carrier bags are priced at RMB 2.0, 81.2% of the surveyed consumers say they will stop buying them. Based on the pricing setting experience from the Irish plastic bag policy, we suggest that the optimal price of plastic carrier bags is RMB 12.0, which is also six times of the consumer’s maximum willingness to pay price.