广西等多地暂停消费品以旧换新 或等待新一批资金额度

Core Viewpoint - The Guangxi Zhuang Autonomous Region has announced a suspension of various consumer goods replacement subsidy activities starting June 20, 2025, due to rapid depletion of local subsidy funds [1][3]. Group 1: Suspension of Subsidy Activities - The suspension includes subsidies for automobile replacement, home appliance upgrades, 3C digital products, electric bicycles, and home renovation [1]. - Other regions, such as Xinjiang, Chongqing, Hubei, and Jiangsu, have also paused similar subsidy programs due to funding issues [2]. Group 2: Funding and Financial Management - The central government allocated a total of 300 billion yuan in subsidies, with local governments required to match 10% of this amount [3]. - As of now, 1,620 billion yuan has been distributed to localities, with 1,380 billion yuan expected to be released in the third and fourth quarters [3][5]. - Local governments are facing financial constraints, leading to the implementation of measures like limiting subsidy qualifications to avoid increasing fiscal burdens [4]. Group 3: Impact on Consumer Behavior - The consumer goods replacement policy has shown significant effects on boosting consumption, with notable increases in retail sales for various categories in May [5]. - Retail sales for home appliances, communication devices, and furniture saw year-on-year growth rates of 53%, 33%, and 25.6%, respectively, contributing to a 1.9 percentage point increase in total social retail sales [5].