the state has allocated 150 billion yuan to accelerate the implementation of the old-for-new exchange of consumer goods
2024-09-11
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buy a car and make up for it!
buy home appliances and make up for it!
buy an electric bike, make up for it!
what will be compensated? real money. consumers can now spend less money on cars, refrigerators, washing machines, tvs, air conditioners, computers, etc. this time, the state will directly allocate about 150 billion yuan of ultra-long-term special treasury bonds to local governments to support the replacement of old consumer goods with new ones.
all regions responded positively. recently, beijing, shanghai, guangdong, tianjin and other places have issued detailed rules. among them, shanghai has arranged more than 4 billion yuan in funds, setting a record high.
this time, the government is really serious from top to bottom. since the old-for-new policy was launched in march, its strength has been increasing. the wording of the document has changed from "promoting" to "strengthening support", which shows the strength and determination to promote consumption.
consumption has become the main engine of china's economic growth, connecting millions of households on one end and the macro-economy on the other. in the first half of this year, final consumption expenditure contributed 60.5% to economic growth, driving gdp growth by 3.0 percentage points.
the performance of consumption is directly related to whether the economic growth target can be achieved. at present, the domestic effective demand is insufficient. the meeting of the political bureau of the cpc central committee held on july 30 required that "the focus of economic policies should be shifted more to benefiting people's livelihood and promoting consumption."
"increasing efforts" is the key word of this consumer goods trade-in policy, which is reflected in both the significant expansion of the support scope and the substantial increase in subsidy standards.
in terms of expansion, the subsidy scope includes replacement and renewal of individual consumers' passenger cars, trade-in of old household appliances and electric bicycles, purchase of items and materials for renovation of old houses, kitchen and bathroom renovation, and home-friendly adaptation for the elderly.
from the perspective of raising the standard, automobile subsidies have increased significantly. among them, the subsidy standard for scrapping and updating cars has increased from 10,000 yuan for purchasing new energy passenger cars and 7,000 yuan for purchasing fuel passenger cars to 20,000 yuan and 15,000 yuan respectively. many places have also increased the subsidy standard for replacement and renewal. for example, shanghai has increased the subsidy standard for individual consumers to purchase pure electric passenger cars for old replacement to 15,000 yuan, and the subsidy standard for fuel passenger cars has increased to 12,000 yuan.
in terms of home appliances, buyers of eight types of home appliances, including refrigerators, washing machines, televisions, air conditioners, computers, water heaters, household stoves, and range hoods, who meet energy efficiency or water efficiency standards of level 2 or above, can enjoy a subsidy of 15% to 20% of the sales price, with a maximum subsidy of 2,000 yuan per item.
at the same time, support local governments to independently determine the types of "8+n" home appliances that can be subsidized. sanlihe noted that many places have added "optional actions" to further expand the types of subsidies, and some places even provide subsidies for buying mobile phones.
for example, guangdong has added three categories of products, including mobile phones, tablets, and smart wearable devices. the subsidy standard for mobile phones is 10% of the product sales price, and the subsidy for each product does not exceed 1,000 yuan; the subsidy standard for tablets and smart wearable devices is 15% of the product sales price, and the subsidy for each product does not exceed 2,000 yuan. shenzhen has further added six categories of products, including consumer drones, consumer robots, 3c servers, projectors, smart sports equipment (including sports cameras), and coffee machines, to the subsidy scope.
the replacement of old electric bicycles with new ones has also begun to take effect. for example, shenzhen has proposed to promote the replacement of about 250,000 electric bicycles in the city, and provide subsidies to individual consumers at 20% of the sales price of new bicycles, with a maximum amount of no more than 800 yuan.
zhu keli, executive director of the china information association and founding dean of the national research institute of new economy, said in an interview in sanlihe that the strengthening and expansion of the policy of exchanging old consumer goods for new ones will make subsidies more powerful and cover a wider range, thereby effectively stimulating consumers' enthusiasm for replacement, which will directly promote consumers' willingness to buy and promote the growth of the consumer market.
consumption is showing positive signs. in july, total retail sales of consumer goods increased by 2.7% year-on-year, 0.7 percentage points faster than the previous month.
as the second largest consumer of goods, china is working hard to promote consumption growth, which will not only help improve people's livelihood and well-being, but will also provide more development space and business opportunities for chinese and foreign companies.
source: sanlihe
