Core Viewpoint - The upcoming 618 shopping festival is facing disruptions as several regions, including Jiangsu and Chongqing, have suspended the issuance of national subsidies for home appliances, raising consumer concerns. However, the Guangdong Provincial Department of Commerce has confirmed that the "old-for-new" policy will not end prematurely, attributing the suspensions to system upgrades and periodic inventory checks [1][2][7]. Group 1: Policy Updates - Chongqing has halted the issuance of subsidies for 27 categories of green smart home appliances and home renovation due to exhausted funds, with plans for a second phase of the "old-for-new" subsidy policy being drafted [2][10]. - Jiangsu's Department of Commerce stated that the suspension of subsidies is due to system upgrades, and both online and offline channels will implement quota management until the end of the year [2][10]. - In Guangdong, while some cities have paused certain subsidies, most regions continue to offer them, with the overall "old-for-new" policy set to last until December 31, 2025 [7][10]. Group 2: Economic Impact - The "old-for-new" policy has significantly boosted consumer spending, with a reported sales volume of 1.1 trillion yuan driven by the program as of May 31, 2025. Approximately 175 million subsidies have been issued to consumers [10][11]. - In Guangdong, the "old-for-new" sales reached 153.45 billion yuan in 2024, benefiting over 11.28 million consumers, making it the largest scale in the country [10][11]. - The National Development and Reform Commission plans to accelerate the allocation of funds to support the "old-for-new" initiative, which is seen as a key driver for consumption recovery and economic stability [10][11].

Core Viewpoint - The article discusses the temporary suspension or limitation of national subsidies for old-for-new replacement policies in certain regions and e-commerce platforms, particularly during the peak shopping season of "6.18" [1][2]. Group 1: National Subsidy Adjustments - In regions like Guangdong and Chongqing, the national subsidy for old-for-new replacement has been paused or limited due to factors such as funding supply and government opposition to excessive price competition [1][3]. - The "Yue Huan Xin" program in Foshan has reached its funding limit, with future subsidies scheduled to be released in phases starting August 1 [3][4]. - The Chongqing subsidy for green smart home appliances has also been exhausted, leading to a halt in new applications [4][5]. Group 2: Market Dynamics and Consumer Behavior - The rapid consumption of subsidy funds indicates that the subsidies have effectively stimulated consumer spending, with over 1.1 trillion yuan spent on old-for-new replacements this year [10]. - The competitive pricing among e-commerce platforms has intensified, with some products being sold at prices lower than their production costs due to various subsidies [11]. - The current market pricing structure has become chaotic, with discrepancies between retail and factory prices, leading to concerns about healthy competition in the industry [11][12].

Core Viewpoint - The temporary suspension or limitation of national subsidies for trade-in programs in certain regions during the "6.18" promotional period is attributed to factors such as phased funding supply and the government's stance against excessive price competition [1][5][8]. Group 1: National Subsidy Adjustments - In regions like Guangdong and Chongqing, the national subsidy for trade-in programs has been paused or limited, with specific programs indicating they are "fully subscribed" or "out of stock" [2][3]. - The "Yue Huan Xin" program in Foshan has announced that various subsidies will be released in three phases, with strict limits on the total amount available in each phase [2]. - In Guangzhou, certain subsidies are available only at specific times each day, indicating a controlled distribution of funds [2]. Group 2: Market Dynamics and Consumer Behavior - The rapid consumption of subsidy funds indicates that the subsidies have effectively stimulated consumer spending, with over 1.1 trillion yuan spent on trade-in programs this year [7]. - The competitive landscape among e-commerce platforms and brands has intensified, with some retailers offering additional discounts on top of national subsidies, leading to price discrepancies [7][8]. - The current pricing environment is described as chaotic, with some products being sold below cost due to aggressive competition and subsidy strategies [8]. Group 3: Industry Insights - Industry experts suggest that the suspension of subsidies in some areas may lead to a healthier competitive ecosystem, as excessive low-price competition has distorted market dynamics [8]. - The government has expressed concerns over "involution" in the market, where companies engage in unsustainable pricing strategies that undermine fair competition [8].