每卖两辆新车，就有一辆享受补贴！2025年“以旧换新”惠及超3.6亿人次

Core Insights - The "old-for-new" policy in China is projected to generate over 2.6 trillion yuan in sales by 2025, benefiting more than 360 million consumers and serving as a significant driver for consumption growth and industrial upgrading [1][2] Group 1: Policy Impact on Sales - By 2025, the "old-for-new" policy will lead to the replacement of over 11.5 million vehicles, 129 million home appliances, 9.1 million digital products, 12 million home renovation items, and 1.25 million electric bicycles [1] - From January to November 2025, the total retail sales of consumer goods are expected to grow by 4.0% year-on-year, with the "old-for-new" policy contributing over 1 percentage point to this growth [1] Group 2: Industrial Upgrading - The policy has significantly enhanced industrial quality, with nearly 60% of replaced vehicles being new energy vehicles, and over 90% of replaced home appliances being high-efficiency products [1] - The recycling of scrapped vehicles is projected to increase by 24.5% in 2025, leading to the recycling of approximately 9.6 million tons of steel and 1.3 million tons of non-ferrous metals, while reducing carbon emissions by about 24.5 million tons [1] Group 3: Consumer Safety and Experience - Over 4.8 billion subsidies have been issued directly to consumers since the policy's implementation, with a significant number of new green, low-carbon, and smart products entering the market [2] - The replacement of old electric bicycles has exceeded nine times that of 2024, with 90% of new bicycles meeting national safety standards [2] Group 4: Economic Revitalization - The "old-for-new" policy has revitalized offline retail, with consumers increasingly opting for in-store experiences, leading to over 30% growth in surrounding merchant consumption in areas with concentrated home appliance replacement stores [2] - The Ministry of Commerce indicates that the policy will continue to evolve, further stimulating consumption potential and promoting green and low-carbon transitions for high-quality economic development [2]