CCTV News: On January 8, the State Council Information Office held a regular policy briefing. Fu Jinling, Director of the Economic Development Department of the Ministry of Finance, introduced that in 2025, the Ministry of Finance will fully absorb good experiences and practices from various places, further optimize policy measures, and allow the "two new" funds to play a greater role in promoting high-quality economic development.
First, further optimize capital allocation. For consumer goods exchanged funds, the Ministry of Finance will work with the National Development and Reform Commission to follow the principle of "incentive compatibility" based on the previous relevant allocation factors, and based on the 2024 consumer goods exchanged policies and fund implementation, it will be tilted towards regions with good work results. Recently, the central government has issued 81 billion yuan in old-for-new consumer goods in 2025, supporting local governments to coordinate the continuous implementation of policies.
The second is to further increase support. For some areas with large demand for funds and high social attention, further expand the scope of implementation and increase subsidy standards. For example, the support scope of equipment update projects has been expanded to electronic information, production safety, facility agriculture and other fields; the products for home appliance exchange subsidies will be expanded from 8 categories to 12 categories; the subsidies for purchases of digital products such as mobile phones; the standards for the renewal subsidies for new energy cities have been appropriately increased, and the average subsidy per vehicle has been increased from 60,000 yuan to 80,000 yuan.
The third is to further strengthen the policy linkage of fiscal funds. For the principal of the equipment renewal of qualified operating entities, the principal of the loan for equipment renewal of qualified operating entities will be allocated on the basis of the central government's interest subsidy of 1.5 percentage points, and the extra interest subsidy will be arranged to further reduce the financing cost of equipment renewal of operating entities. All localities are allowed to explore the linkage of subsidy policies and financial support, effectively amplify the effect of consumer goods trade-in policy, and promote more high-quality durable consumer goods to enter residents' lives.
Fourth, further optimize the fund application process. In order to improve the convenience and effectiveness of policy implementation, the Ministry of Finance supports the Ministry of Commerce, integrates the national consumer subsidy data platform, and does a good job in data sharing and automatic comparison, improves audit efficiency, and ensures the safe and efficient use of funds. At the same time, we will guide local governments to preallocate some funds to the corresponding payment platforms or business entities based on actual conditions, improve the efficiency of fund liquidation, and reduce the advance and operating pressure of enterprises.
