Large-scale equipment renewal and trade-in of consumer goods have strong traction, and increasing policy support is conducive to better releasing the potential of domestic demand. At the end of July, the "Several Measures on Supporting Large-scale Equipment Renewal and Consumer Goods Trade-in" was released, proposing to make overall arrangements for about 300 billion yuan of ultra-long-term special treasury bond funds to support the "two new". Since August, relevant policies have been implemented one after another. The subsidy for scrapping and updating cars has been doubled, the trade-in subsidy for household appliances is "8+N", and the trade-in scheme for electric bicycles has been introduced.
E-bikes: There is a subsidy for participating in trade-in
The Ministry of Commerce and other five departments recently issued the "Implementation Plan for Promoting the Trade-in of Electric Bicycles" to promote the trade-in of electric bicycles nationwide.
How do I get a new one?
● All localities should make overall plans to make good use of the relevant funds to support the trade-in of consumer goods, formulate the implementation plan for the trade-in of electric bicycles in combination with the actual situation, subsidize the consumers who return the old electric bicycles under the name of the individual and exchange them for new electric bicycles, and encourage consumers who enjoy subsidies to purchase qualified new electric bicycles produced by enterprises that meet the "Standard Conditions for the Electric Bicycle Industry".
● Subsidies can be appropriately increased for consumers who return old lithium-ion battery electric bicycles and replace them with lead-acid battery electric bicycles. The battery of the lithium-ion battery electric bicycle purchased in exchange should also meet the standard requirements of the "Safety Technical Specification for Lithium-ion Batteries for Electric Bicycles" (GB 43854).
● Support electric bicycle sales enterprises, production enterprises, and recycling enterprises to jointly carry out trade-in, and give superimposed discounts to consumers.
● Local people's governments may, in light of the actual situation of their respective regions, use local financial funds to subsidize consumers returning electric bicycles and batteries with high safety hazards.
● If it is found that the substandard product is used as a new product, the subsidy will not be given, and if the substandard product is clearly known as a new product for replacement, it will be regarded as a fraudulent subsidy.
● All localities should properly recycle and dispose of waste electric bicycles and their waste batteries.
Agricultural machinery scrapping update: subsidy standards are raised
The Ministry of Agriculture and Rural Affairs and other three departments issued the "Supplementary Notice on Increasing Work Efforts to Continue to Implement the Subsidy Policy for the Scrapping and Renewal of Agricultural Machinery", requiring the continuous implementation of the subsidy policy for scrapping and updating agricultural machinery.
What subsidy standards have been raised?
● For scrapping tractors below 20 horsepower, the maximum scrapping subsidy for a single unit is increased from 1,000 yuan to 1,500 yuan.
● Scrap combine harvesters, rice transplanters, seeders and newly purchase the same type of machinery, increase the scrapping subsidy standard by no more than 50%, and the maximum scrapping subsidy for a single unit shall not exceed 30,000 yuan.
● Scrap and update the purchase of cotton pickers, and the maximum scrapping subsidy for a single unit will be increased from 30,000 yuan to 60,000 yuan.
● For those who have received the scrapping subsidy, make up the difference in the subsidy.
Car trade-in: subsidy doubled
The Ministry of Commerce and other seven departments issued the "Notice on Further Improving the Work Related to the Trade-in of Automobiles" to raise the subsidy standard for scrapping and renewal.
What is the subsidy standard?
During the period from April 24, 2024 (inclusive, the same below) to December 31, 2024, individual consumers scrap fuel passenger vehicles with emission standards of China III and below or new energy passenger vehicles registered before April 30, 2018, and purchase new energy passenger vehicles or fuel passenger vehicles with an displacement of 2.0 liters and below that are included in the Catalogue of New Energy Vehicle Models Exempted or Exempted from Vehicle Purchase Tax issued by the Ministry of Industry and Information Technology, the subsidy standards will be adjusted as follows:
● For scrapping the above two types of old vehicles and purchasing new energy passenger vehicles, a subsidy of 20,000 yuan;
● A subsidy of 15,000 yuan will be given to those who scrap the fuel passenger cars with emission standards of China III and below and purchase fuel passenger cars with a displacement of 2.0 liters and below.
How do I apply for a subsidy?
Individual consumers who intend to apply for the subsidy fund for the trade-in of their old cars should submit their applications for the subsidy by logging on to the website of the National Automobile Circulation Information Management System or the "Car Trade-in" applet and filling in their personal identity information before January 10, 2025.
The State Council client applet "large-scale equipment renewal consumer goods trade-in" area,
There is a column of "car trade-in subsidy application",
Subsidy application, progress inquiry, operation guide...... can be viewed with one click.
Scan the code to apply↓↓
Trade-in of household appliances: subsidy "8+N" category up to 2,000 yuan per piece
The General Office of the Ministry of Commerce and other 4 departments issued the "Notice on Further Doing a Good Job in the Trade-in of Household Appliances", clarifying that all localities independently determine the subsidy for "8+N" household appliances, with a maximum subsidy of 2,000 yuan per piece.
What is the subsidy standard?
All localities should make overall plans for the use of central and local funds to give trade-in subsidies to individual consumers for the purchase of refrigerators, washing machines, televisions, air conditioners, computers, water heaters, household stoves, and range hoods with 8 types of household appliances with energy efficiency or water efficiency standards of level 2 or above, and the subsidy standard is 15% of the final sales price of the product, and an additional 5% subsidy will be given to the final sales price of the product for the purchase of energy efficiency or water efficiency products of level 1 or above. Each consumer can subsidize 1 piece of each type of product, and the subsidy for each piece does not exceed 2,000 yuan.
All localities independently determine the specific varieties of the above-mentioned 8 types of household appliances. Encourage local governments to subsidize other household appliances and clarify relevant subsidy standards in combination with local residents' consumption habits, the actual situation of the consumer market, and industrial characteristics. Encourage qualified areas to include hotel TV terminals in the scope of trade-in subsidies for consumer goods according to local conditions.
Scrapping of old commercial trucks:
The General Office of the Ministry of Transport, the General Office of the Ministry of Public Security, the General Office of the Ministry of Finance, and the General Office of the Ministry of Commerce issued the "Notice on Further Improving the Scrapping and Renewal of Old Operating Trucks", clarifying that the subsidy period for the scrapping and renewal of old operating trucks and the new purchase of new energy urban cold chain distribution trucks is from July 31, 2024 to December 31, 2024.
What types of commercial goods vehicles are eligible for the subsidy?
The scrapping and renewal of old operating trucks shall be carried out in accordance with the type of scrapped vehicle, the time of early scrapping and the power type of the newly purchased vehicle, etc., and the specific standards shall be implemented in accordance with the document [2024] No. 90 of the transportation plan.
● If the scrapped truck meets the following conditions, the vehicle owner can apply for funding:
- Medium and heavy-duty diesel trucks with emission standards of China III and below;
- Hold the "Motor Vehicle Cancellation Certificate" issued by the public security organ and the "Scrapped Motor Vehicle Recycling Certificate" issued by a qualified scrapped motor vehicle recycling and dismantling enterprise, and the valid "Road Transport Certificate" issued by the competent department of transportation before the vehicle is cancelled.
● If the scrapped and renewed truck meets the following conditions, the vehicle owner can apply for funding:
- Scrapped vehicles shall meet the requirements for scrapped vehicles in (1) above;
- The newly purchased vehicle shall be a registered China VI emission standard or new energy vehicle, and hold a valid Road Transport Certificate issued by the competent department of transportation. Among them, new energy vehicles should be included in the "Catalogue of New Energy Vehicle Models Exempted from Vehicle Purchase Tax";
- The newly acquired vehicle is registered with the same owner as the scrapped vehicle.
● If the newly purchased truck meets the following conditions, the vehicle owner can apply for funding:
The newly purchased vehicle shall be a registered new energy urban cold chain delivery truck (which must meet the relevant requirements of the "Technical Requirements for the Selection of Urban Logistics Distribution Vehicles" (GB/T 29912) and be included in the "Catalogue of New Energy Vehicle Models for Reduction and Exemption of Vehicle Purchase Tax"), and hold a valid "Road Transport Certificate" issued by the competent department of transportation.
What is the subsidy standard?
Scrapping of old operating vessels and updates:
The Ministry of Transport and the National Development and Reform Commission issued the Implementation Rules for the Scrapping and Renewal Subsidy for Old Transportation Ships, which will scrap and update old Chinese ships in the People's Republic of China from August 2, 2024 to December 31, 2028.
What is the subsidy standard?
Replacement of power batteries for old new energy city bus vehicles:
The Ministry of Industry and Information Technology and other eight departments jointly issued an announcement to deploy the safe and orderly replacement of power batteries for old new energy urban public transport vehicles to serve the people to travel safely and conveniently.
What criteria should be met for the replacement of the power battery?
The performance of the power battery used for replacement should meet the requirements of the mandatory national standard GB 38031 "Safety Requirements for Power Batteries for Electric Vehicles", and it is recommended to meet the requirements of recommended national standards such as GB/T 31484 "Cycle Life Requirements and Test Methods for Power Batteries for Electric Vehicles" and GB/T 31486 "Electrical Performance Requirements and Test Methods for Power Batteries for Electric Vehicles". The replaced waste power batteries should be handed over to recycling service outlets and other channels, and relevant entities should upload traceability information in accordance with relevant regulations.
Large-scale equipment renewal in key energy areas:
The National Development and Reform Commission and the National Energy Administration jointly issued the Implementation Plan for Large-scale Equipment Renewal in Key Energy Areas. The "Implementation Plan" proposes that by 2027, the scale of equipment investment in key energy areas will increase by more than 25% compared with 2023.
What are the key tasks?
The key tasks of the "Implementation Plan" include promoting the renewal and technological transformation of thermal power equipment, promoting the renewal and technological transformation of power transmission and distribution equipment, promoting the renewal and recycling of wind power equipment, promoting the renewal and recycling of photovoltaic equipment, steadily promoting the renewal and transformation of hydropower equipment, promoting the renewal and transformation of clean heating equipment, and promoting equipment renewal and technological transformation with standard upgrading.
Intensify support for the "two new" related policies:
The National Development and Reform Commission and the Ministry of Finance issued a notice on several measures to support large-scale equipment renewal and trade-in of consumer goods
● Cars
Notice of the Ministry of Commerce and other 7 departments on further doing a good job in the work related to the trade-in of old cars
● Home appliances
Notice of the General Office of the Ministry of Commerce and other 4 departments on further doing a good job in the trade-in of household appliances
● Energy field
Notice of the General Office of the National Development and Reform Commission and the General Department of the National Energy Administration on Printing and Distributing the Implementation Plan for Large-scale Equipment Renewal in Key Energy Areas
●Power batteries for old new energy city bus vehicles
Eight departments, including the Ministry of Industry and Information Technology, have deployed to do a good job in replacing the power batteries of old new energy urban bus vehicles
Notice of the Ministry of Transport and the Ministry of Finance on Printing and Distributing the Implementation Rules for the Renewal Subsidy of New Energy City Buses and Power Batteries
●Old operating trucks
The Ministry of Transport and the Ministry of Finance issued the Notice on the Implementation of the Scrapping and Renewal of Old Operating Trucks
Notice of the General Office of the Ministry of Transport, the General Office of the Ministry of Public Security, the General Office of the Ministry of Finance and the General Office of the Ministry of Commerce on further doing a good job in the scrapping and renewal of old operating trucks
https://www.gov.cn/zhengce/zhengceku/202408/content_6970991.htm
●Old operating vessels
Notice of the Ministry of Transport and the National Development and Reform Commission on Printing and Distributing the Implementation Rules for the Scrapping and Renewal Subsidy of Old Transportation Ships
Notice of the General Office of the Ministry of Transport on the implementation of the policy of scrapping and updating old operating ships
https://www.gov.cn/zhengce/zhengceku/202408/content_6970776.htm
● Electric bicycles
Notice of the General Office (Office) of 5 departments including the Ministry of Commerce on printing and distributing the "Implementation Plan for Promoting the Trade-in of Electric Bicycles".
Is there a subsidy for trade-in of electric bikes? How much is the subsidy? A picture to understand
● Agricultural machinery
Notice of the General Office of the Ministry of Agriculture and Rural Affairs and the General Office of the Ministry of Finance on intensifying efforts to continue to implement the subsidy policy for scrapping and updating agricultural machinery
The General Office of the Ministry of Agriculture and Rural Affairs, the General Office of the National Development and Reform Commission, and the General Office of the Ministry of Finance have strengthened their efforts to continue to implement the supplementary notice of the subsidy policy for scrapping and updating agricultural machinery
Source: Chinese government website