Large-Scale Equipment Renewal and Consumer Goods Replacement Policy

The policy includes increased funding for equipment updates in areas like industrial, energy, transportation, and medical sectors, enhanced subsidies for replacing old vehicles and agricultural machinery, and higher incentives for purchasing new energy-efficient appliances and digital products to have a smart home. There are grants for the purchase of new energy vehicles (NEVs) (passenger cars), with extra benefits in case for scrapping old internal combustion engine vehicles (ICEVs) (registered before 2012 and 2014, in case of gasoline and diesel, respectively) and NEVs (registered before 2018). 

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