State Council: Increase policy support to promote large-scale equipment updates and trade-in of consumer goods

According to news from this site on July 23, according to the Chinese government website, the State Council held an executive meeting of the State Council on July 19 to study policies and measures to increase support for large-scale equipment updates and trade-in of consumer goods.
The meeting pointed out that large-scale equipment updates and the trade-in of consumer goods have strong traction, and increasing policy support will help better unleash the potential of domestic demand.
The meeting decided:
Coordinate and arrange ultra-long-term special government bond funds to further promote large-scale equipment updates and trade-in of consumer goods.
Optimize the support methods for equipment update projects, expand the scope of support to equipment updates in the fields of energy, electricity, old elevators, etc., as well as energy conservation, carbon reduction, and safety transformation in key industries, lower the application threshold, and simplify the approval process.
Support the scrapping and renewal of old operating ships and old operating trucks, increase the subsidy standards for the renewal of agricultural machinery, new energy buses, etc., and increase the proportion of financial discounts on equipment renewal loans.
Support local governments to enhance their ability to trade-in consumer goods for new ones, increase subsidies for vehicle scrapping and renewal, and trade-in subsidies for home appliances, and implement financial support policies for the recycling and processing of waste electrical and electronic products.
Create a good market environment, support companies with different ownership and registration locations to enjoy the policies without discrimination, and ensure that the policies are implemented.
This site noticed that in March this year, the State Council issued the "Action Plan for Promoting Large-scale Equipment Updates and Trade-in of Consumer Goods" which proposed:
By 2027, the scale of equipment investment in industry, agriculture, construction, transportation, education, cultural tourism, medical and other fields An increase of more than 25% compared with 2023;
The energy efficiency of main energy-consuming equipment in key industries has basically reached the energy-saving level, the proportion of production capacity with environmental protection performance reaching A-level has increased significantly, the penetration rate of digital R&D design tools and the numerical control rate of key processes in industrial enterprises above designated size were respectively More than 90%, 75%;
The recycling volume of scrapped cars has approximately doubled compared with 2023, the transaction volume of second-hand cars has increased by 45% compared with 2023, the recycling volume of used home appliances has increased by 30% compared with 2023, and the proportion of recycled materials in the resource supply than further improvement.
On April 26, seven departments including the Ministry of Commerce issued the "Implementation Rules for Automobile Trade-in Subsidies". From the date of the issuance of the rules to December 31, 2024, individual consumers will be required to scrap fuel passenger vehicles with emission standards of National III and below. Or a new energy passenger vehicle registered before April 30, 2018 (inclusive of the same day, the same below), and purchase a new energy passenger vehicle included in the "Catalogue of New Energy Vehicle Models with Vehicle Purchase Tax Reduction and Exemption" of the Ministry of Industry and Information Technology, or Fuel-powered passenger vehicles with a displacement of 2.0 liters and below will be given a one-time fixed subsidy.
Among them, those who scrap the above two types of old cars and purchase new energy passenger cars will receive a subsidy of 10,000 yuan; those who scrap fuel passenger cars with National III emission standards and below and purchase fuel passenger cars with a displacement of 2.0 liters and below will receive a subsidy of 10,000 yuan. The subsidy is 7,000 yuan.

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