Heavyweight policy for trade-in: Up to 500 yuan subsidy for mobile phones and tablets, up to 2000 yuan for computers and air conditioners, and up to 20,000 yuan for new energy vehicles

On January 8th, the National Development and Reform Commission and the Ministry of Finance stated at a regular press conference of the State Council that they will implement subsidies for the purchase of new digital products such as mobile phones. For individual consumers purchasing mobile phones, tablets, smartwatches, and wristbands (with a single sales price not exceeding 6,000 yuan), a subsidy of 15% of the product sales price will be granted, with each consumer eligible for a subsidy for 1 item per product category, and each subsidy not exceeding 500 yuan.

In addition, support will continue for the trade-in of old appliances for new ones in 8 categories, including refrigerators, washing machines, televisions, air conditioners, computers, water heaters, household stoves, and range hoods, and 4 additional categories of appliances, including microwaves, water purifiers, dishwashers, and rice cookers, will be included in the subsidy scope. For individual consumers purchasing products in these 12 categories that meet the 2nd-level energy efficiency or water efficiency standards, the subsidy standard will be 15% of the product sales price; for products meeting the 1st-level energy efficiency or water efficiency standards, the subsidy standard will be 20%. Each consumer can receive a subsidy for 1 item per product category (up to 3 items for air conditioning products), with each subsidy not exceeding 2,000 yuan. Individual consumers who have enjoyed the trade-in subsidy for a certain category of home appliances in 2024 can continue to enjoy the subsidy when purchasing the same category of home appliances in 2025.

Furthermore, in 2025, the support scope for scrapping and updating automobiles will be expanded. Individual consumers who scrap gasoline passenger cars registered before (and including) June 30, 2012, diesel and other fuel passenger cars registered before June 30, 2014, or new energy passenger cars registered before December 31, 2018, and purchase new energy passenger cars or fuel passenger cars with an engine displacement of 2.0 liters or below included in the "Catalog of New Energy Vehicles Exempt from Vehicle Purchase Tax," will receive a subsidy of 20,000 yuan for each new energy passenger car purchased and a subsidy of 15,000 yuan for each fuel passenger car with an engine displacement of 2.0 liters or below purchased.

A relevant person in charge of the Ministry of Commerce stated that since the implementation of the "Two New" policy in 2024, sales of automobiles and home appliances have improved. In the trade-in of old cars, the proportion of new energy vehicles purchased exceeds 60%; in the trade-in of old home appliances, the sales of 1st-level energy-efficient products account for over 90%; in the renovation of kitchen and bathroom equipment, the replacement of smart home products such as smart toilets, robotic vacuum cleaners, and smart locks has exceeded 10 million units.

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