According to the National Development and Reform Commission, from January to August this year, 330 million people nationwide applied for consumer goods replacement subsidies, driving related product sales to exceed 2 trillion yuan. Retail sales of household appliances and audio-video equipment, cultural and office supplies, furniture, and communication equipment in enterprises above the designated size increased by 28.4%, 22.3%, 22.0%, and 21.1% year-on-year respectively, supporting a 4.6% year-on-year growth in total retail sales of consumer goods.
Recently, the National Development and Reform Commission, together with the Ministry of Finance, has allocated 69 billion yuan in ultra-long-term special government bonds to local governments for consumer goods replacement subsidies, marking the fourth batch of funding this year. With this allocation, the full-year central government funding of 300 billion yuan has been completely distributed. Next, relevant departments will further organize local governments to reasonably control work pace, improve fund utilization plans, ensure balanced and orderly subsidy payments, strengthen product quality and price supervision, strictly crack down on fraudulent subsidy claims and other illegal activities, and smoothly implement the consumer goods replacement policy to ensure subsidy funds are used effectively and achieve tangible results.
