11

2024

-

03

16 million cars at stake! Ministry of Commerce, NDRC latest voice

author:

Qi Meng


 

On March 6, the second session of the 14th National People's Congress held a press conference on the theme of economy in the press conference hall of the Media Center in Beijing.

 

Minister of Commerce Wang Wentao introduced that China's consumption promotion this year has two priorities, one is to promote automobiles, household appliances, home improvement kitchen and other consumer goods to replace the old with new, and the other is to boost service consumption.

 

In terms of replacing old consumer goods with new ones, China's automobile, home appliances and home improvement markets have a large comprehensive volume, a considerable number of products have a long service life, high energy consumption and emissions, and some have certain safety hazards because of long-term use, and potential renewal demand has entered a concentrated release period. For example, there are more than 16 million passenger vehicles in use of national III and below emission standards, of which more than 7 million are older than 15 years. On average, about 270 million appliances a year are considered to be beyond their safe service life. Promoting the exchange of old consumer goods for new ones is not only a powerful measure to strengthen the current impetus for economic growth and consolidate the recovery, but also a long-term strategy to promote high-quality development. Of course, the trade-in is to be built on the voluntary basis of consumers.  The overall idea is to adhere to the market-oriented, through policy support and guidance, fully mobilize the enthusiasm of all parties, and form an effective mechanism that makes it easier to replace the old and more willing to replace the new.

 

At the same time, Zheng Zhajie, director of the National Development and Reform Commission, also mentioned that promoting large-scale equipment renewal and replacing old consumer goods with new ones is a major deployment made by the Party Central Committee and The State Council focusing on the overall situation of high-quality development, which can not only promote consumption and stimulate investment, but also increase advanced production capacity and improve production efficiency, but also promote energy conservation and carbon reduction, reduce security risks, both benefiting the people and benefiting enterprises. Kill many birds with one stone.

 

In terms of durable consumer goods, at the end of last year, the number of civilian vehicles in China reached 336 million, and the number of major household appliances such as refrigerators, washing machines and air conditioners exceeded 3 billion. The upgrading of automobiles and household appliances can also create a trillion-scale market space. The huge market space brings huge development opportunities, and there is much to be done. In accordance with the decision-making and deployment of the Party Central Committee and The State Council, recently, the National Development and Reform Commission, together with relevant departments, studied and formulated the "Action Plan to promote large-scale equipment renewal and replace old consumer goods with new ones", focusing on the implementation of the "four major actions" of equipment renewal, consumer goods for new ones, recycling and recycling, and standards improvement. On the implementation of the trade-in action on consumer goods. China has a large number of durable consumer goods such as automobiles and home appliances, and the vast masses of people's demand for higher quality, smarter, greener and more personalized consumer goods is also growing, and there is a great demand for renewal every year. We will exchange old consumer durables such as automobiles, household appliances and home appliances for new ones, phase out old automobiles that meet mandatory scrapping standards in accordance with law and regulations, encourage and support consumers to exchange old household appliances for energy-saving ones, and vigorously support efforts to upgrade homes suitable for aging.

 

China Automotive News, March 6, 2024