值得关注的是，2025年，京东在承接以旧换新工作的基础上，针对乡镇及以下地区累计投入近300亿 元，覆盖商品补贴、营销推广、物流履约、服务能力建设等关键领域，为广大乡镇及以下地区消费者带 去国家补贴与京东补贴的多重福利与海量产品，以及一站式高效国补换新体验。 2026年1月1日零时，2026年消费品以旧换新补贴正式启动，京东再次率先全面承接线上线下 （300959）"国补"。线上，消费者打开京东APP搜索"国家补贴"即可直达活动会场；线下，全国近3万 家京东MALL、京东电器城市旗舰店、京东之家及京东家电专卖店同步响应，消费者领取国补资格即可 到店享受优惠。 作为2026年全国首个乡村国补活动，本次"国补下乡焕新行-济阳站"不仅是政策落地的重要实践，更是 深入县域市场、助力农村消费升级的积极探索。未来，京东将继续发挥供应链与数字技术优势，携手地 方政府，推动更多优质商品与服务走进农村，助力构建城乡一体的消费新格局。 作为2026年全国首个乡村国补活动，本次活动将在济阳文体中心美术馆设立1000平方米的选购会场，并 在济阳15家京东家电专卖店、京东3C数码门店同步开展，旨在让农村居民在家门口即可直观感受、便 捷 ...

Group 1 - The Ministry of Commerce, the People's Bank of China, and the Financial Regulatory Administration have issued a notice to strengthen the collaboration between commerce and finance to boost consumption [1] - The notice emphasizes expanding county-level consumption and upgrading rural consumption, highlighting the importance of these sectors in China's consumption system [1] - The retail sales of consumer goods in rural areas are projected to reach 66,729 billion yuan in 2024, with a growth rate of 4.3%, outpacing urban growth [1] Group 2 - The county and rural consumption market is expanding, with the retail sales in these areas accounting for 38.8% of the total retail sales of consumer goods, an increase of 0.4 percentage points from the previous year [1] - Counties serve as a crucial link between urban and rural areas, facilitating supply chain optimization, logistics, and the upward movement of agricultural products [1] - Relevant A-share concept stocks include companies like Gongxiao Daji and agricultural product firms [2]

Core Viewpoint - The notification emphasizes the need for enhanced collaboration between commerce and finance to stimulate consumption, particularly in rural areas and county-level markets [1] Group 1: Support for Consumption - The initiative aims to assist consumption by expanding county-level consumption and providing credit support for activities like "New Big Market, New Services, New Consumption" [1] - There is a focus on upgrading rural consumption and promoting the sale of agricultural specialty products through financial services at rural revitalization-related exhibitions [1] Group 2: Financial Support for Rural Development - The plan encourages financing for the development of rural logistics and distribution centers, as well as commercial centers, to meet the credit needs of cold chain logistics projects [1] - Financial institutions are urged to enhance support for designated assistance counties through "financing + intelligence" initiatives, optimizing the rural credit environment [1]

Core Viewpoint - The recent implementation plan by six departments, including the Ministry of Industry and Information Technology, aims to enhance the quality and upgrade of consumer goods in rural areas, which is crucial for driving domestic demand and facilitating economic circulation between urban and rural areas [1][2]. Group 1: Rural Consumption Market - Rural areas are a significant part of China's consumer market, with over 400 million people living in these regions [3]. - The retail sales growth of consumer goods in rural areas has consistently outpaced that of urban areas, indicating substantial consumption potential [3]. Group 2: Consumer Demand and Product Supply - There is a shift in rural residents' consumption demand from production-oriented and survival-oriented to development-oriented and quality-oriented [1]. - The demand for durable consumer goods such as automobiles, air conditioners, and furniture is growing rapidly among rural residents [2]. - There is a need for product innovation and promotion targeted at rural areas, particularly in sectors with concentrated demand [2]. Group 3: Infrastructure and Service Gaps - The existing commercial infrastructure in rural areas is insufficient, limiting the availability of quality consumer goods and related services [2]. - There is a need to improve logistics and distribution systems, including cold chain, warehousing, and delivery services, to better meet the consumption needs of rural residents [2]. - The plan encourages the development of new business formats and the expansion of chain stores and specialty shops into rural areas to enhance consumer choice [2].

Core Insights - The consumption concept in rural areas is continuously upgrading, leading to increased travel and spending among rural residents [1] Group 1: Travel Trends - Rural residents' travel potential is being increasingly realized, becoming a significant growth point for China's tourism industry [2] - In the first three quarters of 2025, domestic travel among rural residents reached 1.209 billion trips, a year-on-year increase of 25.0%, significantly outpacing urban residents' growth of 15.9% [2] - Total domestic travel expenditure for rural residents was 0.80 trillion yuan, reflecting a 24.0% year-on-year increase, compared to urban residents' growth of 9.3% [2] Group 2: Income and Spending - The per capita disposable income for rural residents was 17,686 yuan, with a nominal growth of 5.7% and a real growth of 6.0%, surpassing urban residents' growth rates [3] - The income disparity between urban and rural residents has decreased, with the ratio of disposable income dropping from 2.46 to 2.43 [3] - Increased income among rural residents has enhanced their purchasing power, facilitating greater participation in travel and other consumption activities [3] Group 3: Infrastructure and Accessibility - Improvements in infrastructure and the increasing prevalence of automobiles in rural areas have made travel more convenient for rural residents [4] - The affordability of cars, including second-hand options, has led to a significant number of rural families owning vehicles, which encourages local travel [4] - The rise of small-town tourism, characterized by lower overall costs, is attracting more rural residents to travel, contributing to the overall expansion of tourism consumption [4]

Core Viewpoint - The rural consumption market in China is experiencing significant growth, driven by tailored products and improved infrastructure, which is becoming a vital force for domestic demand expansion and economic stability [6][10]. Group 1: Rural Consumption Growth - In the first four months of this year, China's rural retail sales reached 21,412 billion yuan, with a year-on-year growth of 4.8%, surpassing urban growth rates [6]. - The introduction of various consumption-boosting policies has further stimulated the vitality of the rural consumption market [6]. Group 2: Product Adaptation to Rural Needs - Companies are increasingly focusing on the unique characteristics of rural consumers, adapting product designs to meet their specific needs [10]. - For instance, Haier's new washing machine features a high-foot design to prevent rust from water accumulation, and simplified controls for ease of use by older consumers [9]. - The introduction of smart appliances, such as air fryers and voice-controlled televisions, reflects a shift from basic functionality to enhanced user experience in rural households [10][15]. Group 3: Electric Vehicles in Rural Areas - The availability of charging infrastructure has made electric vehicles more accessible to rural consumers, with initiatives like the "ten-minute fast charging circle" addressing previous charging difficulties [11]. - Companies like SAIC-GM-Wuling are producing affordable electric vehicles priced between 30,000 to 50,000 yuan, catering to the budget of many rural families [13]. - The growing adoption of electric vehicles is evident, with more rural residents using them for daily activities and agricultural tasks [14]. Group 4: Shift in Consumer Behavior - There is a noticeable shift in rural consumer behavior from merely "getting by" to "enjoying life," with increased interest in entertainment and health-related products [15]. - The rise of online shopping has also transformed purchasing habits, with more rural residents embracing e-commerce for convenience and variety [16]. - The integration of smart technology in daily life, such as smartwatches and health monitoring devices, indicates a growing trend towards health and wellness among rural consumers [16].

Group 1 - The "old-for-new" consumption subsidy policy has revitalized the consumer market in Sichuan, with significant increases in product categories and consumer spending [1] - In Yilong County, the number of product categories for "old-for-new" has increased from 8 to 18, leading to over 70 million yuan in consumer spending [1] - In Quxian County, consumers receive a 10% subsidy on the actual purchase price of new green smart home appliances, along with an additional 10% from merchants, boosting consumer enthusiasm [1] Group 2 - In the first five months of this year, Quxian's physical stores sold over 10,000 electronic products, generating over 40 million yuan in consumption and 5 million yuan in subsidies for citizens [3] - Jiangxi's Xiangfeng County has implemented a comprehensive "old-for-new" subsidy policy for home appliances and electric bicycles, promoting rural consumption upgrades [4] - The "old-for-new" policy has led to a surge in consumer interest in rural areas, with various promotional strategies being employed by local stores [4] Group 3 - Local governments are enhancing the promotion of the "old-for-new" policy to ensure effective implementation, with many businesses participating to provide convenient and affordable options for rural consumers [6] - In Shandong, multiple regions are actively promoting the "old-for-new" policy in rural areas, with a focus on building charging infrastructure for electric vehicles [7] - Shandong Heze has set up convenient service stations to optimize consumer experience and streamline the "old-for-new" process [8] Group 4 - Tai'an City has introduced a "cloud-based" model for the "old-for-new" program, allowing consumers to order appliances online and receive home delivery and installation services [9] - The local government collaborates with businesses to simplify subsidy processes and enhance service delivery to rural households [9]

Group 1: Rural Consumption Growth - In the first four months of this year, China's rural retail sales reached 21,412 billion yuan, with a year-on-year growth of 4.8%, outpacing urban growth [1] - The rural consumption market is becoming a significant driver for expanding domestic demand and stabilizing growth due to a series of consumption-boosting policies [1] Group 2: Product Adaptation to Rural Needs - Haier's new washing machine features a high-foot design to prevent rust from water accumulation, addressing a common pain point for rural consumers [2] - The washing machine is designed with large fonts and clear icons for ease of use, particularly for elderly users, and includes a one-button washing function for different levels of dirt [2][3] - The shift from basic functionality to tailored products reflects a growing focus on rural consumer characteristics, with companies adapting their offerings to meet specific needs [3] Group 3: Electric Vehicles in Rural Areas - The introduction of electric vehicles in rural areas is facilitated by improved infrastructure, such as charging stations, which address previous charging difficulties [5] - The demand for practical and affordable electric vehicles is rising among farmers, with models priced between 30,000 to 50,000 yuan, suitable for rural conditions [5][6] - Companies like SAIC-GM-Wuling are actively engaging with rural markets through promotional activities to enhance vehicle adoption [5] Group 4: Shift in Consumer Preferences - There is a noticeable shift in rural consumer preferences from basic living to enhanced lifestyle products, including smart home appliances and health-related gadgets [8][9] - The trend of online shopping is growing, with more rural residents embracing e-commerce for convenience and variety, leading to an increase in the volume of packages delivered to rural areas [9][10] - The integration of technology in daily life is evident as rural consumers increasingly purchase smart devices to improve their quality of life [9][10]