The Ministry of Commerce has thoroughly implemented the decisions and deployments of the CPC Central Committee and the State Council, and has conscientiously organized and implemented the new subsidy for purchases of mobile phones, tablets, and smart watches (bracelets), and has a good start overall. According to the national data platform for purchasing digital products such as old-for-new and mobile phones, 20.092 million consumers applied for new subsidies for purchasing digital products such as 25.414 million mobile phones.

Promote the implementation of subsidy policies as soon as possible

On January 15, the Ministry of Commerce, together with relevant departments, issued the "Implementation Plan for New Subsidies for Mobile Phone, Tablet, and Smart Watches (Bracelets) Purchase", deploying local governments to optimize subsidy processes to facilitate consumers and treat them equally to support all types of entities to participate in subsidy policies, and create a good implementation environment for new subsidies. In order to seize the peak consumption season of the Spring Festival and meet the needs of holiday consumption, the Ministry of Commerce adheres to the principle of working as soon as possible and rather than late, strengthens work scheduling and business guidance, and urges local governments to speed up the implementation of policies. On January 20, 28 provinces across the country promptly launched subsidy policies, and other regions also implemented them one after another.

Subsidy policies stimulate consumption vitality

According to China UnionPay monitoring data, more than 6,000 merchants across the country participated in new subsidy activities for mobile phones and other digital products through UnionPay, generating 6.2684 million subsidy transactions, with sales of approximately 20.58 billion yuan. Data from third-party market research agencies show that the new purchase subsidy policy has driven the increase in the market volume of mobile phones. In the week before the holiday, mobile phone sales and sales increased by 74% and 65% month-on-month, and 30% and 34% year-on-year respectively.

During the Spring Festival, the sales volume of mobile phones at prices below 2,000 yuan, 2,000-4,000 yuan and 4,000-6,000 yuan increased by 10%, 52%, and 108% year-on-year compared with the Spring Festival holiday last year.

Strengthen risk prevention for subsidy funds

The Ministry of Commerce attaches great importance to the risk prevention work of subsidy policies, pays attention to the coordination between the central and local governments, strengthens digital empowerment, and studies, plans and deploys risk prevention with policy design. The national business system has built an information database in multiple dimensions to verify the authenticity of buyer's identity information and subsidy transactions in real time, and monitors the risk of fund use throughout the process to ensure that each transaction is authentic, closed-loop and traceable. Mobile phone production and sales companies respond actively, fulfill their direct responsibilities for risk prevention and control, widely use technologies such as dynamic password signing and logistics trajectory verification, strengthen risk control judgment, and prevent false transactions.

(CCTV reporter Liu Ying and Song Wan)