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[local governments are actively implementing the arrangements for the use of ultra-long-term special government bond funds, which shows the urgent desire of local governments to stimulate and expand consumption. there are two obvious reasons behind this: on the one hand, using special government bond funds to support equipment renewal and the replacement of old consumer goods with new ones can effectively reduce the pressure on local funds; on the other hand, consumption growth will directly drive the development of related industrial chains, relieve pressure on local economies and stimulate vitality.]

[in july this year, the national development and reform commission and the ministry of finance issued a document to arrange about 300 billion yuan of ultra-long-term special treasury bonds to further support large-scale equipment upgrades and consumer product replacements.]

recently, the "implementation plan for shenzhen's ultra-long-term special government bond funds to further support the trade-in of consumer goods" (hereinafter referred to as the "plan") was released, supporting the trade-in of old goods in eight major areas including personal passenger cars, new energy buses, and home appliances and home furnishings.

in july this year, the national development and reform commission and the ministry of finance issued a document to arrange about 300 billion yuan of ultra-long-term special treasury bonds to increase support for large-scale equipment upgrades and consumer goods replacement. among them, about 148 billion yuan is used for large-scale equipment upgrades and about 150 billion yuan is used for consumer goods replacement. shenzhen's "plan" is one of the implementation versions of this action.

the goal of the plan is to achieve the replacement of approximately 70,000 vehicles with new ones, sales of approximately 1 million home appliances, renovation and replacement of approximately 51,000 home decoration and other products, renewal of approximately 250,000 electric bicycles, and renewal of approximately 1,300 operating trucks and city buses by the end of 2024.

this is actually the second round of large-scale old-for-new policy subsidies launched by shenzhen this year. from may to august, shenzhen has already launched a round of consumer electronics and home appliance purchase subsidies. this subsidy has the characteristics of greater product selection, more subsidies and more convenient purchase.