以旧换新持续火热 消费市场活力满满

Core Insights - The article highlights the positive impact of the "old-for-new" policy on consumer spending in China, showcasing significant participation and sales growth in the home appliance sector [1][2] Group 1: Consumer Participation and Sales Growth - Over 34 million consumers participated in the "old-for-new" program from January to April this year, leading to the purchase of over 51 million home appliances and generating sales of 174.5 billion yuan [1] - The "old-for-new" policy for digital products, initiated in January, has seen 48.8 million consumers purchase 51.5 million items, resulting in sales of 143.26 billion yuan by May 22 [1] - Retail sales of home appliances and audio-visual equipment reached 346.9 billion yuan from January to April, marking a year-on-year growth of 23.9%, significantly outpacing the overall retail sales growth [2] Group 2: Government Support and Policy Implementation - The Chinese government is actively supporting consumer spending through policies aimed at boosting domestic demand, as outlined in the recent government work report [2] - The National Development and Reform Commission has allocated an additional 81 billion yuan in special long-term bonds to further support the "old-for-new" initiative [2] - Local governments are enhancing collaboration and optimizing processes related to the "old-for-new" program, expanding the range of eligible products and streamlining subsidy application procedures [2] Group 3: Market Potential and Future Outlook - China's market is characterized by its vast size and is currently undergoing a critical phase of consumption upgrade, indicating strong future growth potential [2] - The ongoing implementation of consumption-boosting policies is expected to further unleash the potential of the large-scale market, sustaining the vibrant consumer market in the long term [2]