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large-scale equipment renewal and consumer goods replacement (hereinafter referred to as "two new") are major policy deployments in my country. on september 23, the national development and reform commission held a special press conference, and relevant officials explained in detail the new achievements and new measures of the "two new" policy. zhao chenxin, deputy director of the national development and reform commission, introduced that in the past two months, supporting details for the "two new" have been fully issued, national debt funds have been fully allocated, and support policies have been fully launched.

300 billion yuan of national debt funds have been fully allocated

in march this year, the state council issued the "action plan to promote large-scale equipment updates and trade-in of old consumer goods", which made comprehensive arrangements for the "two new" work; in july, with the approval of the state council, the national development and reform commission and the ministry of finance jointly issued the "several measures on further supporting large-scale equipment updates and trade-in of old consumer goods" (hereinafter referred to as the "measures"), which clearly stated that about 300 billion yuan of ultra-long-term special treasury bonds funds should be coordinated to further support large-scale equipment updates and trade-in of old consumer goods.

zhao chenxin introduced that the 300 billion yuan of national debt funds to support the "two new" work have been fully allocated. in addition, as of now, all departments have launched measures to strengthen support for the "two new" and all regions have also introduced a series of detailed implementation measures.

specifically, in terms of equipment renewal, the national development and reform commission, together with relevant departments, optimized the support methods and simplified the approval process in accordance with the principle of "local review and national re-examination", and screened out more than 4,600 qualified equipment renewal projects. the 150 billion yuan of national debt funds in the field of equipment renewal have been allocated to the projects in two batches in accordance with relevant regulations and procedures. in terms of old-for-new consumer goods, the national development and reform commission, together with the ministry of finance, comprehensively considered factors such as the permanent population, regional gdp, and the number of cars and home appliances in various regions to reasonably determine the scale of financial support. the 150 billion yuan of national debt funds in the field of old-for-new consumer goods have been fully allocated to local governments since early august.

zhao chenxin said that with the joint efforts of all parties, the "two new" work has gradually achieved obvious results and is still continuing to show.

the equipment renewal policy has been continuously promoted, effectively mobilizing the enthusiasm of business entities to update various types of equipment such as production, energy consumption, elevators, etc. in the first eight months, investment in equipment and tools increased by 16.8%, and the contribution rate to the total investment growth reached 64.2%, an increase of 3.5 percentage points over the previous seven months, indicating that after the implementation of the policy, the driving effect in august was more obvious.

the old-for-new policy has been implemented in various places, driving a significant increase in sales of key consumer goods. in august, the national passenger car retail volume was 1.905 million, a month-on-month increase of 10.8%. the retail sales of household appliances and audio-visual equipment turned from decline to growth, with a year-on-year increase of 3.4% in august. judging from the situation of platforms and stores, the consumption of old-for-new home appliance consumption has grown rapidly recently.

vigorously support equipment updates in key areas

from the perspective of financial support, the financing needs of enterprises in equipment renewal are mainly met by bank loans, and the people's bank of china provides support through re-lending policy tools. in april this year, the people's bank of china, together with the national development and reform commission and other departments, created a re-lending for scientific and technological innovation and technological transformation, with a scale of 500 billion yuan and an interest rate of 1.75%. among them, 100 billion yuan was arranged to support the "first loan" of start-up and growth-stage technology-based smes; 400 billion yuan was arranged to support equipment renewal and technological transformation projects in key areas, and it was emphasized that priority support would be given to related projects reported by smes.

peng lifeng, director of the credit market department of the people's bank of china, said that since the implementation of the re-lending policy tool, relevant departments have pushed three batches of 13,000 alternative projects to banking institutions; the equipment renewal projects currently pushed have basically achieved "full coverage" of financing matching and due diligence, with a total signed loan amount of 230 billion yuan and a weighted average interest rate of 3.1%, 25 basis points lower than the one-year lpr rate (3.35%).

"according to our statistics, 70% of the funds are used to support small and medium-sized enterprises." peng lifeng said that in the next step, more projects of private enterprises, small and medium-sized enterprises, and agricultural entities should be included in the shortlist, and measures such as increasing support for financing guarantees and risk compensation should be taken to make good use of re-loans for scientific and technological innovation and technological transformation, and vigorously support technological transformation and equipment renewal projects in key areas.

in terms of fiscal support, in addition to the timely issuance of ultra-long-term special government bonds, zhao changsheng, deputy director of the economic construction department of the ministry of finance, also pointed out that the ministry of finance has now allocated the first batch of equipment renewal loan interest subsidy funds.

"the central finance has optimized the fund application process and allocated interest subsidy funds to provincial finances in advance. provincial finances allocate interest subsidy funds to banks on a quarterly basis. banks directly deduct the funds when collecting interest, and business entities can enjoy preferential interest rates without having to apply." zhao changsheng said that the ministry of finance has arranged 20 billion yuan in interest subsidy funds for equipment renewal loans, and has currently allocated the first installment of 8 billion yuan in interest subsidy funds to boost the enthusiasm of business entities for equipment renewal and accelerate equipment renewal and technological transformation.

according to the measures, the central government’s interest subsidy will be increased from 1 percentage point to 1.5 percentage points, the subsidy period will be 2 years, and the total subsidy amount will be 20 billion yuan.

2 million low-emission passenger cars will be phased out

implementing standard improvement actions is an important aspect of the "two new" developments. zhao chenxin said that at present, all 294 national standards to be formulated and revised in the next two years have been approved, of which 70 have been completed and revised and released to the public, covering energy consumption and efficiency, pollutant emissions, production safety, electric vehicles, household appliances, household products, civil drones and other fields.

improving energy efficiency is an important direction for the replacement of old consumer goods with new ones. zhao chenxin introduced that driven by the policy, the retail sales of new energy vehicles reached 1.027 million in august, a month-on-month increase of 17%, and the penetration rate of new energy vehicles exceeded 50% for two consecutive months. it is expected that 2 million low-emission standard passenger cars will be phased out throughout the year.

in addition, in terms of waste material recycling, zhao chenxin introduced that in response to the problems of incomplete recycling channels, the national development and reform commission, together with relevant departments, has further promoted the "two-network integration" of garbage classification outlets and waste material recycling outlets to improve the accuracy of recyclable material classification. as of now, there are about 150,000 recycling outlets and about 1,800 large-scale sorting centers across the country, which effectively solved the problem of insufficient and imperfect recycling outlets in the past.

he said that in the next step, the national development and reform commission will work with relevant parties to accelerate the construction of a waste recycling system covering all fields and links, continue to smooth the resource recycling chain, and promote the realization of "making it easier to get rid of the old and more convenient to replace the new."

beijing business daily comprehensive report