第四批690亿元“国补”，下达！

Group 1 - The core viewpoint is that the consumption upgrade policy, particularly the subsidy for replacing old consumer goods, has significantly boosted retail sales and consumer activity in China [1][3] - From January to August, 330 million people applied for the subsidy, leading to sales exceeding 2 trillion yuan [1] - Retail sales of major household appliances, audio-visual equipment, cultural and office supplies, furniture, and communication devices saw year-on-year growth rates of 28.4%, 22.3%, 22.0%, and 21.1% respectively, contributing to a 4.6% increase in total retail sales of consumer goods [1] Group 2 - The National Development and Reform Commission (NDRC) and the Ministry of Finance have allocated the fourth batch of 69 billion yuan in special long-term bonds to support the consumption upgrade policy, completing the annual allocation of 300 billion yuan [3] - Future efforts will focus on ensuring the effective use of subsidy funds, enhancing product quality and price supervision, and combating fraudulent claims related to the subsidies [3]