What has been the implementation of the Action Plan for Promoting the Exchange of Old for New Consumer Goods since its implementation? The relevant officials of the Ministry of Commerce stated at a special press conference held on the 25th that the effectiveness of the policy of exchanging old for new consumer goods is gradually becoming apparent. ——Automotive: As of 12:00 noon on June 25th, the Ministry of Commerce's Automotive Trade in Information Platform has received approximately 113000 applications for automotive scrapping and renewal subsidies, and the number of applications is showing an accelerating growth trend. The exchange of old for new has stimulated the consumption vitality of the automotive market. In May, the national retail sales of automobiles reached 2.271 million units, a year-on-year increase of 8.7%, of which the retail sales of new energy passenger vehicles increased by 38.5% year-on-year. The transaction volume of second-hand cars was 1.585 million, a year-on-year increase of 5.9%. The recycling volume of scrapped cars was 523000, a year-on-year increase of 55.6%. ——Household appliances: From January to May, the retail sales of household appliances and audiovisual equipment for units above designated size reached 342.1 billion yuan, a year-on-year increase of 7%. Among them, the monthly retail sales in May reached 74.3 billion yuan, a year-on-year increase of 12.9%. From January to May, the sales revenue of major e-commerce platforms increased by 81.8% year-on-year. ——Home decoration kitchen and bathroom: In May, the retail sales of furniture products for units above the designated size increased by 4.8%, an increase of 3.6 percentage points compared to the previous month. At present, the scope of green building materials going to rural areas has expanded from 12 pilot areas to the whole country. In March of this year, the Ministry of Commerce, together with relevant departments, issued the "Action Plan for Promoting the Exchange of Old for New Consumer Goods", proposing to promote the exchange of "energy" for automobiles, "intelligence" for household appliances, and "rejuvenation" for home furnishings, kitchens, and bathrooms, gradually establishing an effective mechanism that is "easier to remove old and more willing to replace new". Since March, a series of fiscal and financial preferential measures have been introduced from the central government to local governments, ensuring that "real gold and silver" discounts reach consumers directly. "We focus on raising funds from multiple sources, actively coordinating various parties to introduce preferential measures, providing subsidies, reducing down payments, reducing interest rates, and exempting breach of contract fines, and striving to create a combination of" old for new "policies for enterprises and the public." Xu Xingfeng, Director of the Market Operation and Consumption Promotion Department of the Ministry of Commerce, said. From the perspective of central finance, the Ministry of Finance has issued a pre allocation of 6.44 billion yuan for central government subsidies for scrapping and updating automobiles to various regions. Various regions have also strengthened their financial support. As of now, approximately 9 billion yuan has been allocated for the exchange of old cars for new ones, and approximately 4 billion yuan has been allocated for the exchange of old cars for home appliances and home decoration. In Hubei, consumers who purchase green smart home appliances and home products that meet the conditions can enjoy a one-time reduction subsidy of 10% of the transaction price; Guangdong has implemented the policy of "zero down payment" for car loans; Jiangsu held over 3600 consumer promotion activities, distributing over 830 million yuan of consumer assistance vouchers and digital RMB red envelopes, with over 100000 merchants participating; Shandong Province has integrated the five resources of finance, finance, platforms, manufacturers, and merchants, and launched a policy package that benefits enterprises and the people. Li Xiaoyan, Deputy Director of the Hubei Provincial Department of Commerce, said, "In the process of policy formulation, we conducted in-depth research to ensure the efficiency and accuracy of policies. Firstly, we expanded the scope of subsidies. We expanded the scope of subsidies from household appliances to 17 types of home products, including air purifiers and other home products. Secondly, we highlighted green intelligence. We included household appliances and goods such as dishwashers and floor sweepers, which represent new trends in daily consumption, in the subsidy scope, and clarified that all subsidized goods must be of secondary or higher energy efficiency and water efficiency. Thirdly, we linked online and offline. To adapt to different consumption habits of residents, online e-commerce platforms and offline entities are needed." According to Xu Xingfeng, in addition to government funding support, preliminary statistics show that the stores are simultaneously carrying out activities, Major home appliance and home furnishing production enterprises, home decoration enterprises, e-commerce platforms, etc. plan to invest nearly 20 billion yuan to support the recycling of old machines, product replacement, and home decoration. Multiple financial institutions have launched financial products such as home appliance trade in consumer loans, interest rate preferential installment loans, and credit card payment discounts. In order to make it easier for consumers to remove the old and more willing to replace the new, a series of convenient and enterprise friendly measures have been launched one after another. In order to facilitate consumers to apply for subsidies for car scrapping and renewal, the Ministry of Commerce has developed and built an information platform for car scrapping and renewal, and launched the car scrapping and renewal small program on WeChat, Alipay, Tiktok and UnionPay Cloud Flash, as well as data related to vehicles from the Ministry of Industry and Information Technology of China Unicom, the Ministry of Public Security and other departments, so that subsidy applications can be submitted at one time and reviewed online, and people can query the review progress in real time. Coordinate multiple departments to address the issues raised by enterprises and the public regarding the trade in process. For example, the Ministry of Public Security has launched a convenient measure to handle car cancellation procedures online; The State Administration of Taxation has clarified that resource recycling enterprises can issue reverse invoices to natural person sellers of scrapped products, solving the problem of pre tax deduction vouchers for recycling enterprises such as used cars and household appliances. Zhang Xingcheng, Deputy Director of the Department of Commerce of Shandong Province, said, "We have established a mechanism for evaluating the progress of exchanging old for new consumer goods. We can evaluate the progress on a monthly basis to ensure that discounts reach consumers directly, and that good deeds are done effectively." Xu Xingfeng said, "Next, we will increase our work efforts, continuously improve the policy system, strengthen financial support, form a working force, and solidly promote the exchange of old for new consumer goods to achieve greater results."