At the beginning of the new year, the National Development and Reform Commission issued good news. This year, it will step up efforts to implement large-scale equipment updates and consumer goods trade-in policies (hereinafter referred to as "two new"), and the scope of equipment update support will be expanded to electronic information, production safety, facility agriculture and other fields, and subsidies will be provided to individual consumers for purchasing three types of digital products such as mobile phones, tablets, smart watches and bracelets; further increase the subsidy standards for new energy urban buses and power batteries, and agricultural machinery scrapping and renewal, and increase support for installing consumer goods exchange. Once this policy was announced, it received widespread attention and praise from all walks of life.

The policy of car trade-in attracts customers to experience on-site

The subsidy for car scrapping and renewal can be applied for up to 20,000 yuan, and the subsidy for scrapping and renewal of home appliances such as air conditioners, refrigerators, and TVs can enjoy a maximum subsidy for new purchases. The maximum subsidy for scrapping and renewal of cotton picking machines has reached 60,000 yuan... In the past year, the implementation of the "two new" policy has effectively promoted the "energy" of automobile replacement and the "smart" of home appliance replacement, and also promoted more enterprises to "renew". As of mid-December last year, the "two new" policy has driven about 5.8 million vehicles to renew cars, and the annual sales volume of many car companies hit record highs. More than 33 million consumers purchased more than 52 million home appliances through trade-in, and the renewal of old equipment reached more than 2 million sets. Among them, the "consumer products trade-in" policy alone has driven the overall sales of related products by more than 1 trillion yuan, effectively driving consumption and investment growth, promoting industrial development and green transformation, and improving people's livelihood while releasing consumption potential.

The "two new" policies are a major policy that benefits enterprises and the people, and are also an important measure to implement the strategy of expanding domestic demand in depth. From the perspective of supply and demand, the "two new" policies not only support the "supply side", and by lowering the threshold and cost of enterprise equipment renewal, it promotes enterprises to improve their product iteration and upgrading capabilities, and use better products to enhance market supply; it also encourages the "consumption side" to guide residents to release potential consumption needs through real price subsidies and discounts, and continuously improve their quality of life. From the perspective of total volume and structural dimensions, the "two new" policies not only stimulate enterprises' investment and production expansion, form a virtuous cycle of mutual promotion of consumption and investment, and promote the growth of the total economic volume; it also encourages enterprises to save energy and reduce carbon, increase advanced production capacity, promote the development of industries to "new" to "green", and achieve optimization of industrial and product structure.

"Textile Hometown" Nantong, Jiangsu, is the world's first high-speed digital printing machine to be put into use

The "two new" policies contain huge growth potential. At present, the stock assets of industrial equipment in my country are about 28 trillion yuan, and the annual demand for equipment investment and renewal in key areas such as industry and agriculture is more than 5 trillion yuan. The transformation and development of high-end, intelligent and green industries has become the general trend. As the world's largest producer and consumer of automobiles and home appliances, my country's current ownership of automobiles and home appliances exceeds 300 million and 3 billion units respectively. With the rapid development of technologies such as the Internet of Things and artificial intelligence, related products are gradually turning to intelligence and interconnection, and the potential for renewal of consumer goods still has huge room for development.

The "two new" policies are strengthened and expanded, both strength and temperature. Based on the summary of the experience in 2024, the country will further increase policy support by significantly increasing funds for ultra-long-term special treasury bonds for "two new" this year, optimizing policy implementation mechanisms, and improving the efficiency of fund use, and will more effectively play the role of "four and two-two-to-one" role. At the same time, in order to meet the calls of residents who hope that the subsidy scope is wider and the policy intensity is greater, digital products such as mobile phones, tablets, smart watches and bracelets will be included in the subsidy scope, and support for installing consumer goods and replacing new products will be increased, fully reflecting the warmth of the "two new" policies paying attention to people's livelihood.

In the new year, with a series of landmark policy measures represented by the "two new" policies being more effective, we can expect that whether it is the macro-level economic development momentum, the production vitality of enterprises as economic cells, or the quality of life of the people closely related to individual feelings, they will be further improved and upgraded. During the implementation process, we must focus on the details of relevant promotion and implementation, and strive to make this policy that benefits enterprises and the people continue to promote the quality of production and life improvement. (Jin Yuheng, special commentator of China Radio International)