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on august 27, hubei province held a press conference to strengthen support for the old-for-new exchange of consumer goods. securities times reporters learned from the press conference that the state and hubei province have allocated a total of 6.666 billion yuan to support the old-for-new exchange of consumer goods, which is more than 6 times the scale of funds before the measures were strengthened.

this year, driven by the policy of exchanging old consumer goods for new ones, hubei's consumption potential has been released. from january to july this year, the total investment in equipment and tools in eight key areas of hubei province was 225 billion yuan, a year-on-year increase of 24.1%; the retail sales of limited automobiles, household appliances and audio-visual equipment increased by 5.8% and 16.6% year-on-year respectively, both higher than the national average.

a relevant person in charge of the hubei provincial development and reform commission said that the introduction of the additional support measures for the old-for-new consumer goods exchange will have a positive impact and positive effect on consumption and investment in the second half of the year.

the automobile, home appliance and other major consumer goods markets are important pillar industries in hubei province and are also the key areas of support in this intensified measure. among them, automobiles account for 3.13 billion yuan, accounting for 47%, and home appliances account for 1.7 billion yuan, accounting for 25.5%. according to reports, with the implementation of the intensified measures, it is expected that by the end of this year, the number of scrapped and replaced cars in hubei province will reach 45,000 and 125,000 respectively, and 1.7 million home appliances will be replaced.

it is worth noting that hubei has further increased subsidies for renewals in key areas such as automobiles and home appliances, with subsidies in many areas increasing by more than 100%.

in terms of car scrapping and renewal, the subsidy standard for eligible car scrapping and renewal will be increased from the previous 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. consumers who meet the subsidy conditions can log in to the national automobile circulation information management system website or wechat, alipay, douyin, and cloud quickpass "auto trade-in" applet, and fill in and submit the application subsidy information completely, accurately, and clearly according to the system prompts.

in terms of passenger car replacement and renewal, the subsidy standard for fuel passenger cars has been increased from 2,000 to 6,000 yuan in the past to 7,000 to 13,000 yuan, and the subsidy standard for new energy passenger cars has been increased from 3,000 to 7,000 yuan in the past to 8,000 to 16,000 yuan. consumers who meet the subsidy conditions can enter the "hubei automobile replacement and renewal service platform" through the dongchedi app and fill in and submit the subsidy application information completely, accurately and clearly according to the system prompts.

in terms of replacing old home appliances with new ones, the subsidy standard has been increased from 10% to 20% for appliances with level 1 energy efficiency or water efficiency standards, and to 15% for appliances with level 2 energy efficiency or water efficiency standards; each consumer can receive a subsidy for one product of each type, and the subsidy for each product shall not exceed rmb 2,000.

according to reports, as of august 25, hubei province had received 15,700 applications for automobile scrapping and renewal subsidies, 38,900 applications for automobile replacement and renewal, and 397,000 home appliances trade-in. from january to july this year, hubei province recycled 113,000 scrapped cars, a year-on-year increase of 54.8%. especially after the implementation of the automobile scrapping and renewal subsidy policy, the number of scrapped cars has increased rapidly. in june, the number of scrapped cars recycled in hubei province increased by 83.6% year-on-year, and in july it increased by 89.7% year-on-year.

in terms of home appliances, from january to july this year, the retail sales of home appliances and audio-visual products above the designated size reached 50.019 billion yuan, a year-on-year increase of 16.6%, 11.8 percentage points faster than the same period last year, driving the province's total retail sales of consumer goods to grow by 5.3% year-on-year, 1.8 percentage points higher than the national average.

hubei province's measures to support the trade-in of old consumer goods will be implemented until december 31 this year. in order to ensure that real money reaches consumers as soon as possible and reduce the pressure on circulation companies to advance funds, hubei has also optimized the work process. for example, in the past, consumers had to "buy new" and "hand in old" at the same time to receive home appliance subsidies, but now they can also enjoy subsidies when buying new. in addition, the progress of online and offline audits will be accelerated to improve consumer experience.