In January this year, the National Development and Reform Commission and the Ministry of Finance issued a notice on the implementation of large-scale equipment renewal and consumer goods trade-in policies in 2025, requiring "strengthening efforts to promote equipment renewal" and "expanding support consumer goods trade-in".
After the Spring Festival, various regions continue to step up efforts to implement the "two new" policies and continuously stimulate new vitality for consumption. The reporter went to shopping malls and enterprises to explore the new impetus brought by the "two new" policies to economic and social development.
From January 20, the national subsidy policy for digital products such as mobile phones has been implemented in various places, and the national consumer market has ushered in a wave of "mobile replacement fever".
The Ministry of Commerce's national data platform for purchasing new digital products such as old-for-new and mobile phones shows that as of February 8, the number of applicants for purchasing new subsidies for purchasing mobile phones and other digital products across the country has exceeded 20 million.
During the reporter's visit, store clerks from many mobile phone stores said that after the policy was implemented, the sales of products participating in the "national subsidy" increased significantly. "Most consumers have clear goals and go straight to the products participating in the subsidy" and "consumers agree with the transparent rules of 'payment reduction'."
In terms of increasing efforts to promote equipment updates, the notice pointed out that the scale of funds to support equipment updates in key areas should be increased. For bank loan principals related to equipment renewal of business entities in accordance with relevant conditions, based on the central government's interest subsidy of 1.5 percentage points, the National Development and Reform Commission will arrange extra interest subsidies for super-long-term special treasury bond funds to further reduce the financing costs of equipment renewal of business entities.
Author: Zou Shangbo, Ban Jingyi, Wang Chenyu
Director: Wu Nian
Produced by Xinhua News Agency Audio and Video Department
