On January 8, Li Gang, Director of the Market Operation and Consumption Promotion Department of the Ministry of Commerce, said at a regular briefing on the State Council’s policies that in 2024, more than 2.9 million vehicles were scrapped and updated, and more than 3.7 million vehicles were replaced and updated, driving car sales of more than 920 billion yuan. More than 36 million consumers purchased more than 56 million units of eight major home appliances, driving sales of 240 billion yuan. The "renewal" of home decoration, kitchen and bathroom has driven the sales of nearly 60 million related products, with sales of about 120 billion yuan, and more than 1.38 million electric bicycles have been traded for new cars, driving sales of more than 3.7 billion yuan.
Li Gang said that high-tech and high-efficiency products are highly favored, driving the transformation of related industries to intelligence and high-end. Among the old-for-new cars, the proportion of new energy vehicles purchased is more than 60%. Among the old-for-new home appliances, sales of first-level energy-efficient products account for more than 90%, driving the retail sales of high-efficiency grades and smart home appliances exceeding double-digit growth for four consecutive months. In the "renewal" of home decoration, kitchen and bathroom, nearly 10 million smart home products such as smart toilets, sweeping robots, and smart door locks have been replaced.
The old-for-new policy promotes the growth of recycling of scrapped cars and used household appliances, and the recycling system for recycling is more sound. Li Gang introduced that the number of scrapped cars recycling in 2024 reached 7.872 million, an increase of 70.7% year-on-year. Data from the Ministry of Commerce’s key contacts with enterprises shows that the recycling of waste household appliances has achieved year-on-year growth for five consecutive months since July. In 2024, the Supply and Marketing Cooperatives will renovate and build more than 1,000 standardized and standardized recycling stations in major large and medium-sized cities across the country, which has strongly supported the recycling and utilization of resources. (Reporters Xie Xiyao and Wei Yukun)
