"shenzhen special zone daily" spend less money to buy better things and trade in old for new to boost demand and promote product upgrades
2024-09-25
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the subsidies cover consumer electronics products, stimulate the expansion of new energy vehicle sales, and promote the replacement of home appliances... in recent days, shenzhen has made full use of the ultra-long-term special government bond funds and municipal fiscal matching funds to increase support for the old-for-new exchange of consumer goods, expand the scope of support, improve support standards, and continuously release the vitality of the consumer market.
consumption has become a strong engine driving economic growth. since breaking through the 1 trillion yuan mark for the first time last year, shenzhen's total retail sales of consumer goods reached 507.203 billion yuan in the first half of this year, and there is room for growth in the future. industry insiders pointed out that stimulating consumption is conducive to prompting the return of corporate funds to achieve a reproduction cycle and form a positive feedback between consumption and production. shenzhen's "old for new" policy combines the characteristics of urban consumption and expands subsidies, which is conducive to helping the industry transform and develop and move towards the new.
expanding the scope of subsidies to stimulate consumption and boost confidence in industrial development
"since the implementation of a new round of 'old for new' consumer subsidy policy in early september, the sales volume of electronic products has increased several times. the subsidy for laptops below 10,000 yuan can reach 20%. products of some brands were quickly sold out, with only a small number of high-end versions left in stock." recently, the reporter visited several retail stores including huaqiang beijing dongdian and suning and saw that sales staff were busy recommending products to customers and placing new orders.
since the release of the "implementation plan for shenzhen's ultra-long-term special treasury bond funds to support the replacement of old consumer goods for new consumer goods" (hereinafter referred to as the "implementation plan"), the city's major business districts and shopping malls have attracted a large number of people and the vitality of the consumer market has been further released. in this round of consumption stimulus policies, shenzhen has included a series of intelligent products in the scope of consumption support based on the characteristics of the local market, covering mobile phones, tablets, smart wearable devices, consumer drones, consumer robots, 3c servers, projectors, smart sports equipment (including sports cameras), coffee machines and other categories.
the electronic information industry is shenzhen's advantageous industry. the city currently has more than 4,100 electronic information manufacturing enterprises above designated size. from terminal products such as mobile phones, computers, and drones to mid- and upper-stream chip manufacturing and component production, shenzhen has formed a complete industrial chain, which not only occupies a major share of the domestic market, but also is exported overseas to become the business card of "made in china".
as a pillar industry for shenzhen's economic growth, the importance of the electronic information industry cannot be ignored. at present, the international competition landscape is complex and changeable, and the uncertainty of the international trade situation is increasing. continuously expanding domestic demand and releasing consumption vitality will help boost confidence in the high-quality development of the industry.
"the policy effectiveness of the implementation plan is very obvious. this round of consumer subsidies has a wide coverage, which has effectively boosted demand and promoted product upgrades. it allows consumers to buy better-performing products with less expenditure, while also stimulating the development of local advantageous industries." said li hongming, president of shenzhen retail intelligent information industry association.
li hongming said that for enterprises, the policy will also open up a positive cycle from consumption to production. the consumption side digests the supply, which provides motivation and direction for exerting the strong production capacity advantage. effective demand can also drive the upstream, midstream and downstream supply chains, add confidence to industrial development, thereby absorbing more employment and increasing income sources, forming a full-chain promotion mechanism to further activate consumption.
increase support to stimulate growth momentum and accelerate transformation and upgrading
since the beginning of this year, shenzhen has launched two rounds of subsidies for the purchase of consumer goods. compared with the first half of the year, the support in this round has been further strengthened. with the rapid increase in the volume of major consumer goods such as automobiles and home appliances, the development momentum of related industries will be further activated.
new energy vehicles are one of shenzhen's pillar industries. with the rapid increase in the market share of new energy vehicles, market competition has already entered a white-hot stage under the huge market base. judging from the sales in august, there is a clear differentiation among new car-making forces, and many brands have declined month-on-month. byd still ranks first in sales, with a strong increase of nearly 9 percentage points month-on-month.
the new round of old-for-new policies continues to favor new energy vehicles, encouraging new energy vehicle replacement with higher subsidies, aiming to further increase market share. haitong securities released its latest research report, saying that the number of scrapped vehicles is expected to increase through the old-for-new policy, which is conducive to promoting the green and low-carbon development and transformation and upgrading of the automobile industry.
the new energy vehicle industry has maintained a steady development momentum, and the driving effect has also been beneficial to the performance of upstream companies. in the first half of this year, shenzhen-based inovance technology's new energy passenger vehicle motor controller products accounted for about 11% of the chinese market, ranking first among third-party suppliers. the relevant person in charge of the company said that inovance technology has invested in the field of new energy vehicles for many years and has entered a harvest period this year, which has laid a solid foundation for continued efforts in the industry and gaining a higher market share.
the home appliance industry is also a key area of this round of consumption subsidies. since the beginning of this year, the growth of demand in overseas emerging markets has become the main growth point for the expansion of the home appliance industry. the growth of the domestic home appliance market has been slightly weak. the consumption support policy has expanded domestic demand, which is conducive to opening up growth space for the home appliance industry.
"many cities across the country, including shenzhen, have launched home appliance 'old for new' policies. home appliance sales have improved since august. with the issuance of consumer subsidies, the development prospects of the home appliance industry in the second half of this year are more optimistic. under the trend of consumption upgrading, brands with high cost-effectiveness and continuous innovation capabilities will take advantage of the opportunity to expand their market share." said peng yanyan, head of greater china consumer products industry at ubs.
industry insiders pointed out that the consumption subsidy measures have effectively promoted the renewal of cars and home appliances, which will further promote investment and consumption, stimulate the supply side to accelerate industrial transformation and upgrading, and promote green and low-carbon development. in the long run, the active consumer market will also make social and economic activities more environmentally friendly, intelligent, and efficient, and ultimately inject new vitality into the sustained and steady development of the economy.
(shenzhen special zone daily reporter xiong ziheng)
