The National Development and Reform Commission, together with the Ministry of Finance, recently issued the fourth batch of 62.5 billion yuan in ultra-long special treasury bonds to support the consumer goods trade-in program, completing the allocation of this year's full 250 billion yuan in trade-in funds.

Since the start of the year, relevant departments have earnestly implemented the decisions and arrangements of the Party Central Committee and the State Council, optimizing the scope of support, subsidy standards and implementation methods for the consumer goods trade-in program, guiding local authorities to solidly carry out the policy, and pushing the trade-in policy to achieve positive results.

From January to August, sales of goods related to trade-ins reached 1.55 trillion yuan, with subsidies benefiting 208 million person-times. Among them, 5.353 million vehicles were traded in, 91.458 million units across six categories of home appliances were traded in, and 108 million digital and smart products were purchased under the program.

Driven by the trade-in policy, retail sales of communication equipment, high energy-efficiency home appliances and wearable smart devices have maintained rapid growth, and the share of new energy passenger vehicles in retail sales of new passenger cars has exceeded 60% for five consecutive months.

Next, relevant departments will continue to guide local authorities in reasonably pacing their work, optimizing fund usage plans, conducting subsidy reviews and payments in a standardized and efficient manner, cracking down hard on illegal activities such as fraudulent and duplicate subsidy claims, and effectively leveraging the effectiveness of the consumer goods trade-in policy.