Two departments: continue to implement the consumer goods trade-in program to support the replacement and updating of vehicles by 2026.

On December 30, the National Development and Reform Commission and the Ministry of Finance issued a notice regarding the implementation of a large-scale equipment updating and consumer goods exchange policy in 2026. The notice stated that the policy will support the exchange of consumer goods for new ones and encourage the updating of automobiles. Individual consumers who transfer the ownership of their passenger cars registered in their own names and purchase new energy passenger cars listed in the Catalog of New Energy Passenger Cars that are eligible for a reduction or exemption of vehicle purchase tax, or passenger cars with a displacement of 2.0 liters or less, will receive subsidies for automobile exchange. The subsidy for purchasing a new energy passenger car is 8% of the car price (up to a maximum of 15,000 yuan), and the subsidy for purchasing a passenger car with a displacement of 2.0 liters or less is 6% of the car price (up to a maximum of 13,000 yuan). The policy also supports the exchange of old household appliances. Individual consumers who purchase refrigerators, washing machines, televisions, air conditioners, computers, and water heaters that meet the level 1 energy efficiency or water efficiency standards will receive a subsidy of 15% of the product's sales price, with each consumer eligible for a subsidy for one item per category, up to a maximum of 1,500 yuan per item. Furthermore, the policy supports the purchase of new digital and smart products. Individual consumers who purchase mobile phones, tablets, smart watches, smart glasses, and other products with a single sales price not exceeding 6,000 yuan will receive a subsidy of 15% of the product's sales price, with each consumer eligible for a subsidy for one item per category, up to a maximum of 500 yuan per item. The policy also supports subsidies for the purchase of smart home products (including elderly-care home products), with specific subsidy categories and standards to be autonomously determined by local authorities based on actual circumstances. The notice also outlined measures to improve recycling and reuse networks, enhance standards, and strengthen organizational implementation. It emphasized the importance of effective funds allocation, sustainable resource recycling, and fair participation in the policy across different regions and industries.