Recently, the National Development and Reform Commission, together with the Ministry of Finance, allocated the fourth batch of 62.5 billion yuan in ultra-long special treasury bonds to local authorities to support consumer goods trade-ins. With this, the full 250 billion yuan for consumer goods trade-ins for the year has been completely allocated.

Since the beginning of this year, relevant departments have earnestly implemented the decisions and arrangements of the Party Central Committee and the State Council, optimized the support scope, subsidy standards, and implementation methods for consumer goods trade-ins, guided local authorities in solidly advancing policy implementation, and achieved positive results in the consumer goods trade-in policy.

From January to August, sales of goods related to trade-ins reached 1.55 trillion yuan, with subsidies benefiting 208 million person-times. Among these, 5.353 million vehicles were traded in, 91.458 million units across six categories of home appliances were traded in, and 108 million digital and smart products were purchased new.

Driven by the consumer goods trade-in policy, retail sales of communication equipment, high energy-efficiency home appliances, and wearable smart devices have maintained rapid growth. The proportion of new energy passenger vehicles in new passenger vehicle retail sales has exceeded 60% for five consecutive months.

Next, relevant departments will continue to guide local authorities in reasonably pacing their work, optimizing fund usage plans, standardizing and efficiently conducting subsidy reviews and payments, and severely cracking down on illegal activities such as subsidy fraud and fraudulent claims, so as to effectively leverage the effectiveness of the consumer goods trade-in policy.