The consumer goods trade-in program clarifies key tasks in three major areas
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The Ministry of Commerce and other 14 departments recently jointly released the “Action Plan for Promoting the Trade-in of Consumer Goods” (hereinafter referred to as the “Action Plan”). The “Action Plan” implements the “Notice of the State Council on Issuing the Action Plan for Promoting Large-Scale Equipment Updates and Trade-in of Consumer Goods”. Organize the nationwide trade-in of cars and home appliances and the “renovation” of home decoration, kitchen and bathroom.
Specifically, the first is to carry out the trade-in of old cars for new ones. We will increase fiscal and financial policy support, and the central government and local governments will work together to arrange funds to support vehicle scrapping and renewal, and encourage qualified localities to support vehicle replacement and renewal. Highlight the traction of standards in the automotive field, improve the scrapped car recycling and dismantling system, promote safe and convenient transactions of second-hand cars, cultivate and expand second-hand car business entities, and promote innovative development of automobile circulation and consumption. The second is to promote the replacement of old household appliances with new ones. Give full play to the guiding role of fiscal and taxation policies, encourage the introduction of measures to benefit the people, improve the waste home appliance recycling network, increase the cultivation of diversified entities, strengthen the guidance and support of home appliance standards, promote the comprehensive improvement of after-sales service levels, and develop the circulation of second-hand goods. The third is to promote the “renewal” of home decoration, kitchen and bathroom. We will increase support to benefit the people, improve the level of convenient services, cultivate new growth points in the home furnishing industry, and optimize the home furnishing market environment.
The “Action Plan” proposes that by increasing policy guidance and support, we will strive to accelerate the elimination of passenger cars with National III emission standards and below by 2025, and further increase the market share of high-efficiency and energy-saving home appliances; the recycling volume of scrapped cars will increase by 50% compared with 2023. %, the recycling volume of used home appliances will increase by 15% compared with 2023; by 2027, the recycling volume of scrapped cars will double compared with 2023, the transaction volume of second-hand cars will increase by 45% compared with 2023, and the recycling volume of used home appliances will increase by 30% compared with 2023.
In order to achieve the above goals, the Action Plan makes a series of arrangements. For example, in terms of strengthening fund management and factor guarantees, the “Action Plan” proposes that local commerce departments and financial departments should strengthen guidance on the use of central fiscal support for automobile trade-in funds and related fund arrangements for the construction of modern commercial circulation systems and county commercial systems. Supervise and do a good job in promoting the construction project of the recycling system of waste household appliances and other renewable resources to ensure that “real money” discounts reach consumers directly.
For another example, in terms of coordinating the promotion of activities, the “Action Plan” proposes to coordinate the arrangement of the “2024 Consumption Promotion Year” activities and the trade-in of consumer goods, and carry out the “Thousands of Counties and Tens of Towns” new energy vehicle consumption season, the “National Home Appliances Consumption Season” and the “Home Appliances Consumption Season”. A series of activities such as “Refreshing Consumption Season” promote the coordination and linkage between production, supply and marketing, upstream and downstream, government, banks and enterprises, and online and offline, carry out joint profit-sharing and promotion activities, form a policy package, stimulate market vitality, and guide orderly competition in the industry.
The Ministry of Commerce stated that in the next step, it will work with various departments and localities to implement documents and policies, strengthen organizational leadership, strengthen fund management and element guarantees, coordinate the promotion of activities, increase policy publicity and interpretation, do a good job in supervising implementation, and promote Consumer goods are replaced with new ones, focusing on expanding domestic demand to better meet the people’s needs for a better life.
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