The new subsidies for purchasing digital products such as mobile phones are a highlight of the increased expansion of the "two new" policies (large-scale equipment updates and consumer goods trade-in) this year. The number of applicants for purchasing digital products such as mobile phones exceeded 20 million on February 8. The peak of consumption during the Spring Festival has just passed, and now we are in the consumption boom of the school season. The reporter saw at the consumption site of this type of electronic products that "national subsidy" has effectively promoted the sales of electronic products such as mobile phones, tablets and smart watches (bracelets) during the school season.
Since last year, the policy of exchanging old products for new products has been implemented, and subsidies of real money have ignited consumers' enthusiasm for exchange purchases. The 2024 Central Economic Work Conference proposed to step up efforts to expand the implementation of the "two new" policies.
On January 8, the State Council Information Office held a regular briefing on the State Council’s policies to step up efforts to expand the implementation of the “two new” policies. Xinhua News Agency (photo by Liu Jian)
The National Development and Reform Commission reported on February 10 that during the Spring Festival (January 28-February 4), the national consumer goods trade-in activities were booming. The sales volume of automobiles, home appliances, home furnishings, digital products, etc. reached 8.6 million units (sets), with sales of more than 31 billion yuan. The sales revenue of home appliances and mobile phones increased significantly by about 166% and 182% year-on-year. Digital products such as mobile phones became the "new year goods" this year's Spring Festival, and the vitality of the consumer market was effectively improved.
Increase support for installing consumer goods to replace new products, and provide subsidies for individual consumers to purchase three types of digital products such as mobile phones, tablets, smart watches and bracelets... The policy of ex-new consumer goods will continue to be implemented this year, and the policy benefits will continue to expand.
Reporter: Huang Kaiying and Liang Shun
Director: Han Yige
Produced by Xinhua News Agency Audio and Video Department
