National Development and Reform Commission: From January to May, a total of 125 billion yuan of funds have been allocated for the first two batches of old-for-new consumer goods this year, which has cumulatively driven sales of related products to exceed 820 billion yuan.

Li Chao, deputy director of the Policy Research Office of the National Development and Reform Commission and spokesperson, stated at a press conference that this year's "two new" policies have been deeply optimized in terms of support scope, subsidy standards, implementation mechanisms, and other aspects. Over the past six months, various departments and regions have jointly promoted the continuous efforts of the policies, with the main effects being reflected in three aspects. Firstly, the driving effect is strong. Currently, a total of 185.1 billion yuan in equipment update funds have been allocated in two batches, supporting more than 11,000 projects with a total investment exceeding 840 billion yuan. Secondly, the benefits reach a wide range of people. From January to May, a total of 125 billion yuan in funding for replacing old consumer goods has been allocated, already stimulating related sales worth over 820 billion yuan, benefiting more than 110 million people. Thirdly, the efficiency of people's livelihoods has been improved. This year, the installation of elevators in old residential areas and the updating of equipment in elderly care institutions have been included in the support scope. Among the first two batches of equipment update funds, support has already been provided for the updating of 194,000 old residential elevators.