The National Development and Reform Commission, together with the Ministry of Finance, recently allocated the fourth batch of 62.5 billion yuan in ultra-long special treasury bond funds to local governments this year to support the trade-in of consumer goods.

With this allocation, the full-year 250 billion yuan in consumer goods trade-in funds has been entirely distributed.

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 of the consumer goods trade-in program, guided local governments in solidly carrying out policy implementation, and promoted the consumer goods trade-in policy to achieve positive results.

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 maintained rapid growth, and the proportion of new energy passenger vehicles in total new passenger vehicle retail sales has exceeded 60% for five consecutive months.

Next, relevant departments will continue to guide local governments in reasonably grasping the pace of work, optimizing fund usage plans, standardizing and efficiently conducting subsidy reviews and payments, severely cracking down on illegal and non-compliant acts such as fraudulent and duplicate subsidy claims, and effectively leveraging the effectiveness of the consumer goods trade-in policy.