Group 1 - The large-scale equipment update and consumer product replacement policy has achieved significant results in stabilizing investment, expanding consumption, promoting transformation, and benefiting people's livelihoods [2] - The development of the sports industry and sports consumption is an important part of the strategy to expand domestic demand, with a focus on increasing the supply of sports products and enriching sports events [3] - The "Three Norths" project is a major national strategy related to ecological security and sustainable development, emphasizing the need for integrated protection and systematic governance of natural resources [3][4] Group 2 - The meeting highlighted the importance of enhancing fiscal, land, and other support policies to encourage local development of characteristic industries, achieving ecological, economic, and social benefits [4] - The safety of marine fishing vessels is crucial for the interests of fishermen and shipowners, with a focus on improving safety management and utilizing technology for comprehensive safety regulation [4]

人民财讯8月22日电，李强主持召开国务院常务会议，听取实施大规模设备更新和消费品以旧换新政策 情况汇报。 ...

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（文章来源：央视网） 李强主持召开国务院常务会议，听取实施大规模设备更新和消费品以旧换新政策情况汇报。 ...

Group 1 - The Jiangsu Provincial Audit Office has launched a large-scale audit investigation to track the implementation of equipment renewal and consumer goods replacement policies, aiming to enhance market vitality [1] - The audit focuses on four key areas: the organization of "two new" policy measures, management of large-scale equipment renewal projects, implementation of consumer goods replacement actions, and the allocation and management of "two new" funds [1] - The investigation will assess the scientific nature of policy measures, completion of target tasks, effectiveness of policy implementation, and the efficiency of policy support measures [1] Group 2 - The audit will examine the authenticity of application materials, the standardization of project reviews, and the consistency between project construction and approvals for equipment renewal projects [1] - It will also evaluate the convenience of subsidy procedures, timeliness of subsidy fund disbursement, and authenticity of subsidy recipients in the consumer goods replacement policy, particularly in sectors like automobiles and home appliances [1] - The audit will focus on the rationality of fund allocation methods, timeliness of fund disbursement, and compliance in the use of funds related to ultra-long-term special government bonds [1]

Core Insights - The large-scale equipment upgrade and consumer product trade-in policies have shown positive effects over the past year, promoting transformation, boosting consumer demand, and facilitating economic circulation [2][7]. Group 1: Industry Transformation and Upgrading - From April 2024 to July 2025, the amount spent by enterprises on machinery and equipment increased by 7.3% year-on-year, with industrial enterprises seeing a 9.8% increase [3]. - The policies have effectively transformed tax incentives into new momentum for industrial upgrading, enhancing production efficiency and product quality [3][4]. - The data indicates that equipment updates are not merely about replacing machines but signify a systematic upgrade across the entire industrial chain [3]. Group 2: Consumer Demand and Market Dynamics - The trade-in policy has significantly reshaped consumer expectations, with sales of household appliances and audiovisual equipment increasing by 44.5% and 22.8% respectively from April 2024 to July 2025 [5]. - The sales of service robots surged by 51.1%, indicating a strong demand for advanced consumer products [5]. - The policy has lowered the cost of purchasing new products for consumers, thus meeting their demand for high-quality and feature-rich products [5][6]. Group 3: Economic Circulation and Resource Optimization - The "Two New" policies have created a virtuous cycle, with retail demand growth positively impacting supply, leading to a 5.8% year-on-year increase in manufacturing sales revenue [7]. - The interaction between equipment upgrades and consumer demand has optimized resource allocation and improved economic efficiency [7]. - The policies are seen as a strategic lever to address the dual challenges of insufficient effective demand and supply structure imbalance [8].

Core Insights - The latest tax data from the National Taxation Administration indicates significant growth in various sectors due to the implementation of the "Two New" policy [1][2] Group 1: Equipment and Consumer Goods - Corporate procurement of machinery and equipment increased by 7.3% year-on-year from April 2024 to July 2025 [1][2] - Sales of daily household appliances rose by 44.5% year-on-year, while audiovisual equipment sales increased by 22.8% during the same period [1][2] Group 2: New Energy Vehicles - Sales of new energy vehicles experienced a remarkable growth of 81.7% year-on-year from April 2024 to July 2025 [1][2] Group 3: Policy Impact - The "Two New" policy has fostered a positive interaction characterized by "policy-driven demand release and industrial upgrading" over the past year [2]

Group 1 - The implementation of large-scale equipment updates and the trade-in policy for consumer goods has shown significant effects over the past year, aiding in industrial transformation and stimulating diverse consumer demand, thus promoting economic circulation [1][2] - From April 2024 to July 2025, the amount of machinery and equipment purchased by enterprises nationwide increased by 7.3% year-on-year, with notable growth in the information transmission software and technology service sectors at 27.8% and 28.3% respectively, highlighting the supportive role of equipment updates [1] - In the traditional and smart consumption sectors, retail sales have surged, with home appliances and audiovisual equipment sales increasing by 44.5% and 22.8% respectively, while furniture and sanitary ware retail sales rose by 30.1% and 13.6% [1] Group 2 - The sales revenue of the manufacturing industry increased by 5.8% year-on-year, driven by the significant growth in retail demand, which in turn has encouraged manufacturing enterprises to accelerate equipment upgrades [2] - The sales of service robots have seen a remarkable year-on-year growth of 51.1%, indicating a strong market response to the policies [1] - The new energy vehicle sales nationwide surged by 81.7% from April 2024 to July 2025, reflecting the positive impact of the trade-in policy on the automotive industry [1]

Group 1 - The "Two New" policies have shown positive effects in promoting transformation and upgrading, boosting consumer demand, and facilitating economic circulation over the past year [1] - From April 2024 to July 2025, the implementation of these policies is expected to directly drive retail demand growth, which in turn will positively impact the supply side [1] - Manufacturing sales revenue has increased by 5.8% year-on-year, indicating a stronger push for equipment upgrades among manufacturing enterprises [1]

Group 1 - The large-scale equipment renewal and trade-in policy has shown positive effects in promoting industrial transformation, boosting consumer demand, and facilitating economic circulation [1][2] - From April 2024 to July 2025, the procurement amount of machinery and equipment by enterprises nationwide increased by 7.3% year-on-year, with industrial enterprises seeing a 9.8% increase [1] - The procurement amount for information transmission software and technology service industries grew by 27.8% and 28.3% year-on-year, respectively, indicating a strong support for industrial transformation [1] Group 2 - The trade-in policy has stimulated diverse consumer demand, with retail sales of daily household appliances and audio-visual equipment increasing by 44.5% and 22.8% year-on-year, respectively [1] - Sales of furniture and sanitary ware also saw significant growth, with increases of 30.1% and 13.6% year-on-year [1] - The manufacturing sales revenue in the manufacturing sector increased by 5.8% year-on-year, indicating a smoother economic internal circulation [2]