Core Viewpoint - The recent suspension of the national subsidy for the "old-for-new" consumer goods program has sparked significant discussion on social media, particularly in Chongqing, where a new round of subsidies is expected to be announced in early June [1][2]. Group 1: Policy Updates - The Chongqing Municipal Commerce Commission confirmed that the second phase of the "old-for-new" subsidy policy is being drafted, with details on subsidy standards, categories, and application methods to be provided in an official document expected in early June [1]. - The announcement on the Chongqing consumption page indicated that funds for 27 categories of green smart home appliances and home renovation subsidies have been exhausted, leading to the suspension of consumer vouchers and eligibility code applications on June 2 and 3 [1]. Group 2: Impact and Scope - Since the launch of the new "old-for-new" policy in early 2025, it has directly stimulated over 6 billion yuan in consumption, with government subsidies exceeding 1.2 billion yuan, benefiting over one million consumers [2]. - The policy covers not only traditional appliances like refrigerators and washing machines but also includes innovative categories such as water dispensers, air purifiers, and projectors, with a maximum subsidy of 2,000 yuan per item and a subsidy rate of up to 20% [2]. - The initiative also extends to other sectors, including automobiles, home renovation, electric bicycles, and digital products, creating a multi-category synergy effect [2]. Group 3: Consumer Guidance - The Chongqing Municipal Commerce Commission advises consumers to be cautious of unofficial information regarding the "national subsidy policy" circulating on social media, urging them to rely on official sources like the "Yukuaiban" app or the Chongqing Municipal Commerce Commission's website for accurate updates [2].

Core Points - The "National Subsidy" program for replacing old consumer goods, particularly in the home appliance and mobile digital product sectors, is facing a potential suspension, causing significant discussion on social media [1][4][17] - The program is scheduled to end on December 31, 2025, but may conclude earlier if the subsidy fund is depleted [3][4] - Various regions, including Jiangsu and Chongqing, have already reported suspensions or limitations on the availability of subsidies, indicating a tightening of the program [6][11][16] Group 1: Subsidy Program Status - The "National Subsidy" program is experiencing suspensions in multiple regions, with reports of halted applications for subsidies in places like Jiangsu and Guangdong [13][17] - In Chongqing, the first phase of subsidy funds was exhausted by June 3, leading to a pause in applications, with a second phase still under development [16] - The program's funding is limited, and consumers are advised to act quickly to secure subsidies before they run out [4][8] Group 2: Impact on Sales and Consumer Behavior - In Jiangxi province, the subsidy program has expanded its categories from 8 to 16, including new items like microwaves and dishwashers, resulting in significant sales [20] - As of June 5, 199.27 million units of home appliances have been sold under the subsidy program, leading to a total consumer subsidy of 13.07 billion yuan and sales of 68.26 billion yuan [20] - The mobile and 3C product segment also saw substantial sales, with 138.88 million units sold and a consumer subsidy of 4.94 billion yuan, driving sales of 38.5 billion yuan [20]