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Our reporter Liu Meng

On August 16, the Ministry of Commerce and seven other departments issued the "Notice on Further Improving the Work of Auto Trade-in" (hereinafter referred to as the "Notice"). Compared with the first round of implementation details released in April, this new policy has significant changes.

In terms of automobile scrapping and renewal, individual consumers who scrap fuel passenger cars with emission standards of National III or below or new energy passenger cars registered before April 30, 2018 between April 24, 2024 (including that day, the same below) and December 31, 2024, and purchase new energy passenger cars or fuel passenger cars with a displacement of 2.0 liters or less that are included in the "Catalogue of New Energy Vehicle Models for Vehicle Purchase Tax Reduction and Exemption" of the Ministry of Industry and Information Technology, will have their subsidy standards adjusted. The subsidy standards will be increased from the original 10,000 yuan for new energy passenger cars and 7,000 yuan for fuel passenger cars to 20,000 yuan and 15,000 yuan respectively.

It is worth noting that Xu Xingfeng, director of the Department of Market Operation and Consumption Promotion of the Ministry of Commerce, said at a press conference held by the State Council Information Office on August 2: "The car trade-in policy should be retroactive. Those who have enjoyed the 10,000 yuan subsidy in the past and have already enjoyed it should also make up the 20,000 yuan standard. Consumers who consumed early should not be at a disadvantage. This is also a reflection of policy coordination."

According to the Notice, all eligible subsidy applications (including applications for which subsidy payment has been completed) submitted between April 24, 2024 and January 10, 2025 will be subsidized according to the standards specified in this Notice. Among them, for subsidy applications that have been paid according to previous standards, local governments will make up the difference according to the standards specified in this Notice.