CCTV News: On January 8, the State Council Information Office held a regular policy briefing. Relevant officials from the National Development and Reform Commission, the Ministry of Finance, the Ministry of Commerce, the People's Bank of China, and the State Administration for Market Regulation introduced the situation of increasing efforts to expand the implementation of the "two new" policies, that is, large-scale equipment updates and consumer goods trade-in policies. A relevant person in charge of the National Development and Reform Commission said that the "two new" policies have obvious effects on stimulating consumption vitality. In 2024, more than 6.5 million vehicles were scrapped and replaced and updated nationwide. The domestic market penetration rate of new energy passenger cars began in June and exceeded 50% for seven consecutive months, with the annual domestic retail volume reaching 11 million vehicles. The "two new" policies have obvious effect on driving investment growth
Relevant person in charge of the National Development and Reform Commission introduced that the "two new" policies have obvious effect on driving investment growth. In 2024, among the more than 4,600 equipment update projects supported by ultra-long-term special treasury bond funds alone, the number of equipment updates such as industry, energy consumption, energy and electricity, transportation and other equipment exceeded 2 million units (sets). It is initially estimated that under the comprehensive driving of the "two new" policies, the total number of equipment updates in key areas across the country can reach more than 20 million units (sets), which has effectively driven investment in equipment and tools in related fields.
