Group 1 - The "old-for-new" policy in Shandong has generated a consumption increment worth hundreds of billions, with over 200 billion yuan allocated for subsidies, leading to sales exceeding 1.7 trillion yuan by October 2025 [2][6] - The automotive and home appliance sectors have shown remarkable performance, with nearly 3000 daily applications for vehicle updates and over 1 million home appliances replaced, indicating strong consumer demand [2][4] - Local enterprises are benefiting significantly from the policy, with companies like Hisense and Gree experiencing substantial sales growth, indicating a positive impact on order and channel expansion [4][6] Group 2 - The retail market in Shandong is robust, with a retail sales total of 20,142.1 billion yuan in the first half of 2025, reflecting a year-on-year growth of 5.6%, surpassing the national average [7][11] - Innovations in physical consumption scenarios, such as the introduction of new brands and the renovation of traditional shopping areas, are driving consumer demand and enhancing the shopping experience [7][8] - The service industry is thriving, with significant revenue growth in sectors like entertainment and business services, contributing to job creation and income stability for residents [7][9] Group 3 - The "old-for-new" policy is facilitating a comprehensive upgrade of the consumption industry in Shandong, expanding the range of subsidized products from 8 to 12 categories, thus enhancing consumer choices [6][12] - Digital transformation is empowering the development of the real economy, with over 22,000 companies benefiting from digitalization initiatives, leading to improved production efficiency and reduced operational costs [12] - The integration of various industries, such as tourism and cultural experiences with traditional manufacturing, is enhancing the value chain and driving economic growth [11][12]