Ministry of Commerce: The detailed rules of the second round of the policy for trading in old cars for new ones are officially released, and subsidies will double.

On August 16, the Ministry of Commerce and seven other departments issued a notice on further improving the work of replacing old cars with new ones. Specifically, this time the subsidy standards have been greatly increased. In terms of scrappage and replacement, the subsidies for purchasing new energy passenger cars have been raised from the original 10,000 yuan to 20,000 yuan, and for purchasing fuel passenger cars from 7,000 yuan to 15,000 yuan, doubling or more. In addition to scrappage and replacement, this policy also includes subsidies for replacement and updates. The state will allocate ultra-long-term special national bond funds to local governments to support them in carrying out replacement and updates. The full text reads as follows: The Ministry of Commerce and seven other departments' notice on further improving the work of replacing old cars with new ones To the departments of Commerce, Development and Reform Commission, Industry and Information Technology, Public Security, Ecology and Environment, and Taxation of all provinces, autonomous regions, municipalities directly under the Central Government, and the Xinjiang Production and Construction Corps, as well as the finance departments (bureaus) of all provinces, autonomous regions, municipalities directly under the Central Government, and the Xinjiang Production and Construction Corps, and the finance departments at all levels of the Ministry of Finance: In accordance with the requirements of the "Notice on Supporting Major Equipment Upgrades and the Replacement of Old Consumption Goods" issued by the National Development and Reform Commission and the Ministry of Finance (NDRC Finance [2024] No. 1104, hereinafter referred to as the "Measures"), in order to further improve the work of replacing old cars with new ones and stabilize and expand car consumption, the following relevant matters are notified: I. Increase the subsidy standards for scrappage and replacement For individual consumers who meet the requirements of the Ministry of Commerce, the Ministry of Finance, and other seven departments' "Notice on Issuing the Implementation Rules for Subsidies for Replacing Old Cars with New Cars" (Commerce and Consumption Letter [2024] No. 75, hereinafter referred to as the "Implementation Rules for Subsidies"), if they scrap a national III or below emissions standard fuel passenger car or a new energy passenger car registered before April 30, 2018 between April 24, 2024 (inclusive) and December 31, 2024, and purchase a new energy passenger car included in the Catalog of New Energy Passenger Car Models Eligible for Vehicle Purchase Tax Exemption issued by the Ministry of Industry... **Due to text limit reached, please refer to the full text.**We need to promptly summarize the local area's replacement and update data, and push it to the Ministry of Commerce through the "National Automobile Circulation Information Management" system.This notice shall be implemented from the date of issuance. In case of any inconsistencies between the "Subsidy Implementation Rules" and this notice, this notice shall prevail. Ministry of Commerce National Development and Reform Commission Ministry of Industry and Information Technology Ministry of Public Security Ministry of Finance Ministry of Ecology and Environment State Taxation Administration August 15, 2024 This article is from the official website of the Ministry of Commerce, edited by GMTEight: Huang Xiaodong.