After the successful conclusion of the Third Plenum of the 20th Central Committee of the Communist Party of China, a series of reform measures and detailed rules have been gradually introduced and implemented over the past month. From expanding domestic consumption and promoting economic circulation in the economic field, to efficiently completing tasks for the convenience of the people and enterprises in the field of government services, to continuously rectifying formalism to reduce the burden on grassroots, it sends a strong signal that all departments and fields are concentrating their efforts to further deepen the implementation of reform deployment, and vigorously promote high-quality development with practical work. China National Radio Network's "China National Radio News Review" has launched a series of comments titled "Real and Practical". In March of this year, the State Council issued the "Action Plan for Promoting Large scale Equipment Renewal and Consumer Goods Trade in", which launched a comprehensive and systematic deployment of the "two new" work; In April, seven departments including the Ministry of Commerce and the Ministry of Finance issued the "Implementation Rules for Automobile Trade in Subsidies", clarifying the standards and requirements for automobile scrapping and renewal subsidies; At the end of July, the National Development and Reform Commission and the Ministry of Finance issued the "Several Measures to Strengthen Support for Large scale Equipment Renewal and Consumer Goods Trade in", further increasing support for the "Two New" Action... Since the beginning of this year, the "Two New" policy has continuously expanded and strengthened, continuously unleashing the potential of domestic demand. Investment and consumption are important engines driving economic growth. As one of the key measures to expand domestic demand this year, the "two new" work is an important decision and deployment made by China with a focus on high-quality development. In the short term, this move will help guide residents to release their consumption potential in an orderly manner and improve their quality of life; Stimulating the vitality of various business entities plays a certain role in promoting the growth of consumer goods such as automobiles and home appliances. In the long run, through equipment upgrades and technological transformations, enterprises can reduce production costs, improve production efficiency and product quality, and promote the optimization and upgrading of related industrial structures, which is conducive to the deep integration of technological innovation and industrial innovation. According to data, under the influence of policies, the investment in equipment and tools procurement in China increased by 17.3% year-on-year in the first half of this year, driving a total investment growth of 2.1 percentage points; The retail sales of household appliances and audio-visual equipment by units above the quota increased by 3.1% year-on-year. In view of the fact that small and medium-sized enterprises can not meet the threshold of declaration and lack of funds, consumers want more subsidies. At the end of July, the "two new" policy was strengthened in an all-round way: the state arranged about 300 billion yuan of ultra long term special treasury bond as a whole, no longer set the requirement that "the total investment of the project should not be less than 100 million yuan", and the support scope was expanded to "equipment renewal in energy, power, old elevators and other fields, as well as energy conservation, carbon reduction and safety transformation in key industries", and could be dynamically adjusted in combination with the actual situation. At the same time, the financial discount ratio of equipment renewal loans was increased, and the total scale of discount interest reached 20 billion yuan. As of August 20th, specific regulations and documents have been issued in various fields such as automobiles, energy, and transportation. At present, many parts of the country are accelerating the implementation and deployment of policies and related projects based on actual needs. For example, Shanghai has proposed to focus on strategic needs and emerging fields such as integrated circuits and artificial intelligence, and update teaching equipment that is not suitable for demand or has reached the end of its service life; Henan has made it clear that it will implement three major projects: exchanging old cars for new ones, exchanging old home appliances for new ones, and revitalizing home decoration, kitchen, and bathroom. It will also introduce policies for exchanging old electric bicycles for new ones; Jiangsu has stated that it will better leverage the key role of investment, coordinate the "bringing in" and "going out" strategies, and deepen the construction of new urbanization. One minute deployment, nine minutes implementation. Good policies need to be truly implemented in order to walk the "last mile" well. On the one hand, we need to demonstrate through industrial projects with high technological content, strong driving force, and high economic benefits, fully leveraging the driving force of "renewal+replacement" to drive investment, further exploring the consumption increment of smart homes, new energy vehicles, and other aspects in counties and rural areas, and guiding enterprises to upgrade and innovate industries based on rural consumption scenarios. On the other hand, it is necessary to ensure that the waste household appliances collected in various regions are handed over to legitimate dismantling enterprises, guard against illegal activities such as fraudulent subsidies, and effectively implement policies that help enterprises and benefit the people. (Xinhua News Agency) (Author: Shi Wen, a special commentator for China National Radio)