In 2025, my country's consumer market started hotly. Driven by the in-depth implementation of the "two new" (large-scale equipment renewal and consumer goods trade-in) policy and the increased expansion, consumers' enthusiasm for participating in the exchange of new products has risen, high-tech and high-efficiency products have become the new favorites in the market, and potential market demand has been further released, driving the high-end, intelligent and green transformation of related industries, injecting surging impetus into high-quality development.
During the Spring Festival, the number of searches for consumer goods on major e-commerce platforms exceeded 40 million, and the order volume increased by more than 40% year-on-year. The sales volume of old-for-new products such as automobiles, home appliances, and mobile phones and digital have reached 8.6 million units (sets), demonstrating the potential and vitality of my country's super-large-scale market and proving the scientificity and effectiveness of the "two new" policies.
In fact, trade-in with the new is not a new thing. my country has implemented relevant policies many times in the past, which not only successfully stimulated incremental consumption, solved the problem of "whether" of durable consumer goods, but also played an important role in stabilizing economic growth. The new round of policy for old-for-new consumer goods has far-reaching considerations and goals, focusing more on meeting the needs of renewal and replacement of consumer goods stocks, and is committed to promoting the transformation of consumption from "whether there is" to "good or not", and helping to build a new domestic circulation pattern with consumption as the dominant force.
The "two new" work connects the supply and demand ends, benefiting the people and enterprises, and is a powerful move to promote high-quality development.
From the demand side, owning and enjoying higher quality consumer goods is an important manifestation of the people's yearning for a better life. The "two new" policy has brought real money subsidies to consumers, allowing consumers to spend less money to enjoy better products. During this Spring Festival, digital products such as mobile phones became "New Year's goods", with sales exceeding 4.5 million units, accounting for 45% of the total sales of old-for-new products. In the automotive field, since the beginning of this year, the national scrapped automobile recycling volume has increased by about 35% year-on-year, and the retail volume of new energy passenger cars has increased by more than 20% year-on-year. It is not difficult to foresee that with the continuous advancement of the "two new" policies, more energy-saving, environmentally friendly, intelligent and efficient products will continue to enter the lives of the people, fully meet the people's increasingly diversified consumption needs, and continuously enhance the people's sense of happiness and gain.
From the supply side, the "two new" policies have brought unprecedented development opportunities to enterprises. In order to better meet the rapidly growing market demand, enterprises have increased their efforts, increased R&D investment, improved innovation capabilities, accelerated product iteration, and accelerated the cultivation and formation of new quality productivity. Relevant data shows that in 2024, in the automobile trade-in business, the proportion of new energy vehicles purchased by more than 60%; in terms of home appliance trade-in, the sales of first-level energy-efficient products accounted for more than 90%; during the "renewal" process of home decoration, kitchen and bathroom, nearly 10 million smart home products such as smart toilets, sweeping robots, and smart door locks were replaced. The "two new" policies not only stabilize corporate production and investment expectations, but also improve the confidence of business entities, achieving the goal of winning multiple goals in one fell swoop.
Of course, the "two new" policies will also face some challenges in the implementation process, such as fraudulent subsidies, inferior subsidies as good ones, and overcapacity. In this regard, relevant departments need to strengthen supervision to ensure the fairness and effectiveness of policy implementation; enterprises should pay attention to changes in market demand, avoid blind expansion, and ensure a balance between supply and demand. We should adhere to the national chess game, systematically plan, unify standards, clear up bottlenecks, implement policies accurately, and flexibly promote, build a closer bridge between supply and demand, promote the continuous release of consumer market vitality, and help China's economy move forward steadily.
(Author: Changli)
