前三季度“两新”政策成效显著

Core Viewpoint - The Chinese government is implementing policies to boost domestic consumption and investment, with a focus on promoting the replacement of old products and updating equipment in various industries, which is expected to drive economic growth. Group 1: Consumption and Market Trends - In 2023, the total retail sales of consumer goods reached 36.59 trillion yuan, a year-on-year increase of 4.5%, accelerating by 1.0 percentage point compared to the previous year [1] - The per capita consumption expenditure of residents was 21,600 yuan, growing by 4.6% [1] - The contribution rate of final consumption expenditure to economic growth was 53.5% [1] - Sales of products related to the "old-for-new" policy, such as communication equipment and home appliances, saw significant growth, with retail sales increasing by 16.2% for communication equipment and furniture, and 6.2% for cultural and office supplies [1] - The retail volume of passenger cars reached 2.241 million units, an increase of 6.3% [1] - As of October 22, 2023, applications for the automobile "old-for-new" subsidy exceeded 10 million [1] - Sales of smart wearable devices and robotic vacuum cleaners grew by over 15%, while the retail volume of new energy passenger vehicles reached 1.296 million units, increasing by 15.5% with a penetration rate of 57.8% [1] Group 2: Investment and Equipment Update - The scale of investment support from super long-term special bonds for equipment updates has increased to 200 billion yuan, expanding to various sectors including electronic information and agricultural facilities [2] - Approximately 8,400 projects have been supported by the investment subsidy funds, leading to a total investment exceeding 1 trillion yuan, with a leverage effect of 1:5.3 [3] - Investment in the purchase of equipment and tools increased by 14.0% year-on-year, contributing 2.0 percentage points to overall investment growth [3] - The digital design tool adoption rate among large-scale industrial enterprises reached 85.4%, and the CNC rate for key processes was 67.7% as of the first half of the year [2] Group 3: Policy Implementation and Future Outlook - The government emphasizes the importance of ensuring that subsidy funds are effectively utilized and monitored to prevent fraud and ensure the success of the "old-for-new" policy [3] - The National Development and Reform Commission is working to streamline the approval process for equipment update projects, ensuring timely funding and project execution [2] - The "14th Five-Year Plan" aims to maintain a strategic focus on expanding domestic demand, with policies expected to enhance the interaction between consumption and investment, thereby sustaining economic growth [4]