中国国家发改委：将适时推出“两新”领域增量和储备政策

Core Insights - The National Development and Reform Commission (NDRC) of China is set to enhance policy reserves and research on "Two New" initiatives, which include large-scale equipment updates and consumer goods trade-in programs, to stimulate consumption, stabilize investment, promote transformation, and improve livelihoods [1][2] Group 1: Consumption Enhancement - As of May 5, 2023, five major product categories, including automobiles, home appliances, digital products, home renovation, and electric bicycles, have driven sales of approximately 830 billion RMB [1] - The trade-in program for automobiles has seen over 3 million subsidy applications, while over 55 million units of 12 categories of home appliances have been purchased through trade-in programs [2] Group 2: Investment Growth - From January to April 2023, investment in equipment and tools increased by 18.2% year-on-year, contributing 64.5% to overall investment growth [1] - Investment in sectors closely related to "Two New," such as computer and office equipment manufacturing, consumer goods manufacturing, and equipment manufacturing, saw growth rates of 28.9%, 13.4%, and 8.2% respectively [1] Group 3: Transformation and Upgrading - The demand for green, intelligent, and high-quality products is driving equipment updates, which in turn enhance production efficiency and improve industry performance and profitability [1] Group 4: Policy Implementation - The NDRC plans to expedite fund allocation for the 2024 consumer goods trade-in program and improve fund utilization efficiency [2] - Future initiatives include simplifying subsidy application processes, establishing a direct funding mechanism, and implementing loan interest subsidies for equipment updates to reduce financing costs for businesses [2]