The Third Batch of 69 Billion Yuan Ultra-Long-Term Special Government Bonds Allocated to Support Consumer Goods Trade-In Programs

On July 26, Electric Vehicle Resources learned that recently the National Development and Reform Commission, together with the Ministry of Finance, issued the third batch of 69 billion yuan in ultra-long-term special government bonds to local governments to support funds for trading in old consumer goods for new ones this year. Meanwhile, reports revealed that the fourth batch of 69 billion yuan for the trade-in program will be issued in October.

As disclosed, by July 16, a total of 280 million people nationwide have applied for subsidies for the trade-in of consumer goods, driving sales of related products to exceed 1.6 trillion yuan.

The National Development and Reform Commission will continue to steadily and orderly advance the replacement of old consumer goods with new ones from three aspects.

First, continue to orderly allocate central funds. According to the plan, the fourth batch of 69 billion yuan in ultra-long-term special government bond funds for this year will be issued in October, continuing to support local governments in implementing the policy of trade-in for new consumer goods.

Second, we will promote the balanced and efficient use of funds at the local level. In collaboration with the Ministry of Finance, the Ministry of Commerce, and other departments, we will urge local authorities to refine fund utilization plans by sector and time period, optimize subsidy distribution methods, and ensure that policy implementation is smoother and more orderly, with funds being used evenly throughout the year.

Third, we will continue to improve the policy implementation mechanism. In collaboration with the Ministry of Commerce, the State Administration for Market Regulation, and other relevant departments, we will strengthen the supervision of product quality and prices, urge participating enterprises to operate in accordance with laws and regulations, and strictly prevent risks such as "raising prices before providing subsidies" and fraudulent or excessive subsidy claims. This will ensure the standardized implementation of the policy and fully realize the effectiveness of the "Two New" policies.