The State Council multi-sector afterburner support! Double the subsidy and expand the scope.

Large-scale equipment renewal and trade-in of consumer goods are highly stimulating, and increasing policy support is conducive to better releasing the potential of domestic demand. At the end of July, the "Several Measures on Strengthening Support for Large-scale Equipment Renewal and Trade-in of Consumer Goods" was released, and it was proposed to make overall arrangements for extra-long special treasury bonds of about 300 billion yuan to strengthen support for "two innovations". In August, relevant policies were launched one after another. The subsidy for scrapping and updating automobiles is doubled, and the subsidy for replacing old appliances with new ones is "8+N". The key areas of energy large-scale equipment renewal are clear. Let’s take a look at it-

Car trade-in: subsidy doubled

Seven departments, including the Ministry of Commerce, issued the "Notice on Further Doing a Good Job in Automobile Trade-in" to raise the subsidy standard for scrapping and updating.

What is the subsidy standard?

During the period from April 24, 2024 (including that day, the same below) to December 31, 2024, if individual consumers scrap fuel passenger cars with national emission standards of Class III or below or new energy passenger cars registered before April 30, 2018, and purchase new energy passenger cars or fuel passenger cars with a displacement of 2.0 liters or below which are listed in the Catalogue of New Energy Vehicles with Vehicle Purchase Tax Exemption by the Ministry of Industry and Information Technology, the subsidy standards will be adjusted as follows:

● For scrapping the above two types of used cars and buying new energy passenger cars, the subsidy is 20,000 yuan;

● A subsidy of 15,000 yuan will be given to scrapped passenger cars with national emission standards of Grade III and below and purchased passenger cars with a displacement of 2.0 liters and below.

How to apply for subsidies?

Individual consumers who intend to apply for subsidy funds for automobile trade-in should submit subsidy applications by logging in to the website of the national automobile circulation information management system or the "automobile trade-in" applet before January 10, 2025.

The State Council client applet "Large-scale equipment updating consumer goods with old ones for new ones" area,

There is a column entitled "Application for Vehicle Trade-in Subsidy".

Application for subsidy, progress inquiry, operation guide … can be viewed with one click.

Scan the code to apply ↓↓↓

Trade-in of household appliances: the maximum subsidy for "8+N" category is 2000 yuan.

The general offices of four departments, including the Ministry of Commerce, issued the "Notice on Further Improving the Trade-in of Household Appliances", clarifying that all localities independently decided to subsidize "8+N" household appliances, with a maximum subsidy of 2,000 yuan per piece.

What is the subsidy standard?

All localities should co-ordinate the use of central and local funds, and give old-for-new subsidies to individual consumers for purchasing eight types of household appliances with energy efficiency or water efficiency standards of Grade 2 or above, such as refrigerators, washing machines, televisions, air conditioners, computers, water heaters, household cookers and range hoods. The subsidy standard is 15% of the final sales price of the products, and an additional subsidy of 5% of the final sales price of the products is given to those with energy efficiency or water efficiency standards of Grade 1 or above. Each consumer can subsidize one product of each type, and each subsidy does not exceed 2000 yuan.

All localities independently determine the specific varieties of the above eight types of household appliances. Encourage local governments to subsidize other household appliances and clarify relevant subsidy standards in light of local residents’ consumption habits, the actual situation of the consumer market and industrial characteristics. Encourage qualified areas to incorporate hotel TV terminals into the scope of subsidies for trade-in of consumer goods according to local conditions.

Scrapping and updating of old operating trucks:

The General Offices of the Ministry of Transport, the Ministry of Public Security, the Ministry of Finance and the Ministry of Commerce issued the Notice on Further Doing a Good Job in Scrapping and Updating Old Operating Trucks, clarifying that the subsidy time for scrapping and updating old operating trucks and purchasing new cold chain delivery trucks in new energy cities is from July 31, 2024 to December 31, 2024.

What types of operating trucks can participate in subsidies?

The old operating trucks are scrapped and updated according to the type of scrapped vehicles, the early scrapping time and the power type of newly purchased vehicles, etc., and the specific standards are implemented according to the document No.90 [2024] of Jiaoping Planning.

● If the scrapped truck meets the following conditions, the vehicle owner can apply for funds:

Medium-sized and heavy-duty operating diesel trucks with national emission standards of three or below;

Hold the Certificate of Motor Vehicle Cancellation issued by the public security organ and the Certificate of Scrap Motor Vehicle Recycling issued by qualified scrap motor vehicle recycling and dismantling enterprises, and the valid Road Transport Certificate issued by the transportation authorities before the vehicle cancellation.

● If the scrapped and renewed trucks meet the following conditions, the vehicle owner can apply for funds:

Scrapped vehicles shall meet the requirements of scrapped vehicles mentioned in (1) above;

The newly purchased vehicles shall be registered national six emission standards or new energy vehicles, 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 Vehicles with Vehicle Purchase Tax Exemption;

Newly purchased vehicles are consistent with the registered owners of scrapped vehicles.

● If the newly purchased truck meets the following conditions, the vehicle owner can apply for funds:

The newly purchased vehicles shall be registered cold chain delivery trucks in new energy cities (which must meet the relevant requirements of Technical Requirements for Vehicle Selection of Urban Logistics Distribution (GB/T 29912) and be included in the Catalogue of New Energy Vehicles with Vehicle Purchase Tax Exemption), and hold a valid Road Transport Certificate issued by the transportation authorities.

What is the subsidy standard?

Scrapping and updating of old operating ships:

The Ministry of Transport and the National Development and Reform Commission issued the Detailed Rules for the Implementation of Subsidies for Scrapping and Updating Old Operating Ships in Transportation. From August 2, 2024 to December 31, 2028, China-registered old operating ships in People’s Republic of China (PRC) will be scrapped and updated.

What is the subsidy standard?

Replacement of power batteries for buses in old new energy cities;

The Ministry of Industry and Information Technology and other eight departments jointly issued an announcement to deploy and do a good job in the safe and orderly replacement of power batteries for bus vehicles in old new energy cities, so as to serve the people to travel safely and conveniently.

What standard should the replacement power battery meet?

The performance of the replacement power battery should meet the requirements of the mandatory national standard GB 38031 "Safety Requirements for Power Battery for Electric Vehicles", and it is suggested to meet the requirements of recommended national standards such as GB/T 31484 "Cycle Life Requirements and Test Methods for Power Battery for Electric Vehicles" and GB/T 31486 "Electrical Performance Requirements and Test Methods for Power Battery for Electric Vehicles". The waste power batteries generated by replacement should be handed over to recycling service outlets and other channels, and relevant subjects should upload traceability information according to relevant regulations.

Large-scale equipment renewal in key energy fields;

The National Development and Reform Commission and the National Energy Administration jointly issued the Implementation Plan for Large-scale Equipment Renewal in Key Energy Fields. 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 technical transformation of thermal power equipment, transmission and distribution equipment, wind power equipment, photovoltaic equipment, hydropower equipment, clean heating equipment, and upgrading standards.

Strengthen support for the "two new" related policies:

Notice of the Ministry of Finance of the National Development and Reform Commission on Printing and Distributing "Several Measures for Supporting Large-scale Equipment Renewal and Consumer Goods Trade-in"

● Cars

Notice of the Ministry of Commerce and other seven departments on further improving the work related to automobile trade-in

● Home appliances

Notice of the general offices of the Ministry of Commerce and other four departments on further improving the work of replacing old appliances with new ones

● Energy field

Notice of the General Office of the National Development and Reform Commission and the Comprehensive Department of the National Energy Administration on Printing and Distributing the Implementation Plan for Large-scale Equipment Renewal in Key Energy Fields

● Power batteries for buses in old new energy cities

Eight departments, including the Ministry of Industry and Information Technology, have deployed to replace the power batteries of buses in old new energy cities.

Notice of the Ministry of Transport and the Ministry of Finance on Printing and Distributing the Detailed Rules for the Implementation of Subsidies for Bus and Power Battery Renewal in New Energy Cities

● Old operating trucks

The Ministry of Transport and the Ministry of Finance issued the Notice on Implementing Scrapping and Updating of Old Operating Freight Cars.

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 improving the scrapping and updating of old operating trucks

● Old operating ships

Notice of the National Development and Reform Commission of the Ministry of Transport on Printing and Distributing the Detailed Rules for the Implementation of Subsidies for Scrapping and Updating of Old Transport Operating Ships

Notice of the General Office of the Ministry of Transport on Doing a Good Job in Implementing the Policy of Scrapping and Updating Old Operating Ships