On January 7, the National Development and Reform Commission and the Ministry of Finance jointly issued the Notice on Implementing the Policy of Large-scale Equipment Renewal and Consumer Goods Replacement in 2025.
It is required to increase the scale of funds for equipment renewal in key areas supported by ultra-long-term special treasury bonds, and to continue to support equipment renewal in industry, energy-using equipment, energy and electricity, transportation, logistics, environmental infrastructure, education, cultural tourism, medical treatment and old elevators. The scope of support will be further extended to electronic information, safety production, facility agriculture and other fields, focusing on supporting the application of high-end, intelligent and green equipment. Conditional places are
encouraged to take industrial parks and industrial clusters as carriers to deploy and implement equipment renewal on a large scale. Equipment renewal projects in key areas are supported by the National Development and Reform Commission in conjunction with relevant departments by means of investment subsidies, screening and checking in accordance with the "local audit, national review" approach, simplifying the application and approval process, and effectively improving efficiency.
The full text is as follows:
National Development and Reform Commission Circular
of the Ministry of Finance on Implementing the Policy of Large-scale Equipment Renewal and Consumer Goods
Replacement in 2025
Development and Reform of Environmental Resources [2025] 13
People's Governments of Provinces, Autonomous Regions and Municipalities directly under the Central Government. All ministries and commissions of the State Council and all institutions directly under the State Council:
In order to fully implement the spirit of the 20th National Congress of the Communist Party of China and the Second and Third Plenary Sessions of the 20th Central Committee of the Communist Party of China, and conscientiously implement the arrangements of the Central Economic Work Conference, in accordance with the Action Plan for Promoting Large-scale Equipment Renewal and Consumer Goods Replacement (Guo Fa [2024] No.7), with the approval of the State Council, The policy of large-scale equipment renewal and replacement of old consumer goods with new ones will be implemented in 2025.
1. Strengthen efforts to promote equipment renewal
(1) Increase support for equipment renewal projects in key areas. Increase the scale of funds for equipment renewal in key areas supported by ultra-long-term special treasury bonds, and further expand the scope of support to electronic information and safety on the basis of continuing to support equipment renewal in industry, energy-using equipment, energy and power, transportation, logistics, environmental infrastructure, education, cultural tourism, medical treatment and old elevators. Focus on supporting the application of high-end, intelligent and green equipment. Conditional places are encouraged to take industrial parks and industrial clusters as carriers to deploy and implement equipment renewal on a large scale. Equipment renewal projects in key areas are supported by the National Development and Reform Commission in conjunction with relevant departments by means of investment subsidies, screening and checking in accordance with the "local audit, national review" approach, simplifying the application and approval process, and effectively improving efficiency.
(2) Strengthen the implementation of loan discount for equipment renewal. Give full play to the role of scientific and technological innovation and technological transformation as a policy tool for re-lending, and discount the principal of bank loans related to equipment renewal of business entities that meet the relevant conditions in the central finance. 1. Relying on the promotion of the "two new" inter-ministerial joint meeting system, strengthen the cross-sectoral coordination and information feedback of equipment renewal loan discount, and strengthen the central government. The whole chain optimizes the operation process of project declaration, requirement review, list push and fund issuance, so as to enhance policy transparency and awareness.
(3) Speed up the evaluation, diagnosis and project reserve of equipment in stock. For mandatory standards such as standard technology, energy consumption, emission and safety, as well as guidance catalogues for industrial restructuring and equipment elimination catalogues, we will carry out in-depth evaluation and diagnosis of equipment in stock in the fields of industry, agriculture, energy, construction, transportation, education, cultural tourism and medical treatment, and define the objectives, tasks and implementation plans of equipment renewal in different fields and industries. Relying on the national major construction project database, we should strengthen the normal reserve of equipment renewal projects in key areas, strengthen the guarantee of various elements, and improve the maturity and landing of projects. Improve the long-term mechanism of combining incentives and constraints, and eliminate backward and inefficient equipment in accordance with the law and regulations.
(4) Strengthen the implementation of the old operating ship scrapping and renewal project. We will improve the implementation of subsidies for the scrapping and renewal of old operating ships and continue to support the scrapping and renewal of eligible old operating ships. Strengthen the planning, tracking and scheduling of the old operating ship scrapping and renewal project, and promote the efficient implementation of the project.
(5) Expanding the scope to support the scrapping and renewal of old operating trucks and agricultural machinery. On the basis of the implementation of the support policy in 2024, the scope of subsidies for scrapping and renewal of old operating trucks will be extended to operating trucks with emission standards of the Fourth National Standard and below, and the subsidy standards will be implemented in accordance with the Notice on the Implementation of Scrapping and Renewal of Old Operating Trucks (Jiao Planning Fa [2024] 90). On the basis of the Supplementary Notice on Increasing Efforts to Continuously Implement the Subsidy Policy for Scrapping and Renewal of Agricultural Machinery (Nong Ban Ji [2024] No.5), the rice seedling throwers are included in the scope of subsidy for scrapping and renewal, and are supported with reference to the subsidy policy for scrapping rice transplanters; the maximum amount of subsidy for scrapping and renewing cotton pickers is increased from 60,000 yuan to 80,000 yuan; Field operation detection terminals, plant protection unmanned aerial vehicles, grain dryers (dryers), color sorters and flour mills will be included in the scope of scrapping and renewal subsidies, and each region will calculate the standard of scrapping and renewal subsidies according to regulations; the upper limit of the scope of scrapping and renewal subsidies for agricultural machinery that can be determined by each region will be raised from 6 to 12.
(Six) raise the subsidy standard for new energy city bus and power battery renewal. Efforts have been made to promote the electric substitution of urban buses, renew urban buses aged 8 years or more and power batteries beyond the warranty period, and increase the average subsidy per vehicle from 60000 yuan to 80000 yuan. Local governments can maintain the basic stability of the subsidy standard for power battery renewal, and independently determine the subsidy standard for vehicle renewal. The Ministry of Transport guides all regions to do a good job in linking up preferential policies and making a smooth and orderly transition.
2. Expanding the scope to support the replacement of old consumer goods with new
ones (7) Optimizing the allocation of funds for the replacement of old consumer goods with new ones. We will continue to directly allocate funds for ultra-long-term special treasury bonds to local governments to support the replacement of old consumer goods with new ones. The Ministry of Commerce and Finance of the National Development and Reform Commission reasonably determines the scale of support funds for each region based on factors such as the number of permanent residents, GDP, the number of automobiles and household appliances, the policy of replacing old consumer goods with new ones in 2024 and the implementation of funds, and the allocation of funds is appropriately inclined to the regions with better results in replacing old consumer goods with new ones in 2024. All regions should focus on key areas, give priority to supporting the replacement of old durable consumer goods with new ones, explore the linkage between subsidy policies and financial support, give full play to the role of policy funds, and promote more high-quality durable consumer goods into residents'lives.
(8) Expanding the scope of support for automobile scrapping and renewal. On the basis of the Notice on Further Improving the Work of Replacing Old Vehicles with New Ones (Business Consumption Letter [2024] 392), qualified fuel passenger cars meeting the Fourth National Emission Standard are included in the scope of old vehicles that can apply for scrapping and renewal subsidies. Individual consumers scrap gasoline passenger cars registered before June 30, 2012 (including that day, the same below), diesel and other fuel passenger cars registered before June 30, 2014, or new energy passenger cars registered before December 31, 2018. Purchase new energy passenger cars or fuel passenger cars with a displacement of 2.0 liters or less, purchase new energy passenger cars with a single subsidy of 20000 yuan, and purchase fuel passenger cars with a displacement of 2.0 liters or less. The corresponding scrapped motor vehicles shall be the motor vehicles registered under their own names before the date of promulgation of this circular.
(9) Improve the subsidy standard for automobile replacement and renewal. If an individual consumer transfers a passenger car registered under his own name and purchases a new passenger car, he shall be given a subsidy support for the replacement and renewal of the car, with the maximum subsidy for the purchase of a single new energy passenger car not exceeding 15000 yuan, and the maximum subsidy for the purchase of a single fuel passenger car not exceeding 1. The time of registration of the transferred existing passenger car under its own name shall not be later than date of publication of this notice. Detailed rules for the implementation of subsidies for automobile replacement and renewal shall be reasonably formulated by various regions in accordance with the requirements of this circular and in light of actual conditions.
(10) Strengthen support for the replacement of old household appliances with new ones. We will continue to support the replacement of eight types of household appliances, including refrigerators, washing machines, televisions, air conditioners, computers, water heaters, household cookers and range hoods, and include four types of household appliances, including microwave ovens, water purifiers, dishwashers and rice cookers, in the scope of subsidies. The subsidy standard is 15% of the product sales price for individual consumers who purchase products with Grade 2 energy efficiency or water efficiency standards in the above 12 categories of household appliances; the subsidy standard is 20% of the product sales price for products with Grade 1 energy efficiency or water efficiency standards. Each consumer can subsidize one product of each type (up to three air-conditioning products), and each subsidy does not exceed 2000 yuan. Individual consumers who have enjoyed subsidies for replacing old household appliances with new ones in 2024 can continue to enjoy subsidies for purchasing similar household appliances in 2025.
(11) Implementing new subsidies for purchasing digital products such as mobile phones. For individual consumers to buy mobile phones, tablets, smart watches, bracelets and other three types of digital products (single sales price does not exceed 6000 yuan), subsidies are given at 15% of the product sales price, each consumer can subsidize one product of each type, each subsidy does not exceed 500 yuan.
(12) Actively support the renewal of consumer goods for home decoration. We will increase subsidies for individual consumers to purchase items and materials used in the process of renovation of old houses, partial renovation of kitchens and bathrooms, and home aging renovation, and actively promote smart home consumption.The categories, standards, quotas and implementation methods of subsidies shall be reasonably determined by the relevant departments under the guidance of various regions in light of actual conditions.
(13) Accelerate the replacement of old electric bicycles with new ones. All regions should further improve the implementation rules of subsidies, optimize the way of subsidies, simplify the operation process, strengthen market supervision, and accelerate the replacement of old electric bicycles with new ones. Individual consumers who sell old electric bicycles for scrapping and replace them with new ones shall be given subsidies for replacing old ones with new ones; for those who sell old lithium-ion battery electric bicycles for scrapping and replace them with new lead-acid battery electric bicycles, the subsidies may be increased appropriately. The subsidy standard for replacing old electric bicycles with new ones shall be formulated reasonably by the relevant departments under the guidance of various regions in light of actual conditions.
3. Accelerate the improvement of recycling level
(14) Strengthen the capacity building of recycling. We will continue to arrange ultra-long-term special treasury bond funds to support the construction of high-level recycling projects. Support China Resources Recycling Group Co., Ltd. to speed up the establishment of a national and functional resource recycling platform to smooth the chain of resource recycling. Supporting the supply and marketing cooperative system to give full play to the advantages of grass-roots outlets, speeding up the improvement of standardized recycling network, and promoting the integration of domestic waste collection and transportation system and recycling system of renewable resources. We will strengthen scientific and technological research on major technical equipment for recycling and utilization, and cultivate a number of key enterprises in the field of resource recycling.
(Fifteen) promote the upgrading of second-hand commodity trading and remanufacturing industry. We will promote the pilot construction of second-hand commodity circulation and encourage the development of the "Internet + second-hand" mode. Support platform enterprises and third-party organizations to provide second-hand commodity quality inspection services and information erasure inspection services. Support the export of used cars that meet the quality and other relevant requirements. Encourage the remanufacturing of qualified waste mechanical and electrical equipment, and the quality characteristics and safety and environmental protection performance of remanufactured products should not be lower than prototype new products. Pilot measures for the import of remanufactured products in key industries should be replicated and promoted in the free trade pilot area.
(Sixteen) support the recycling of waste electrical and electronic products. In 2025, the central government will continue to allocate special funds to support the recycling and disposal of waste electrical and electronic products by means of "awards instead of subsidies", so as to promote the healthy development of the industry. Supporting documents for the management of special funds for the disposal of waste electrical and electronic products should be issued as soon as possible to clarify the enterprise standards and conditions required to be included in the scope of financial support, and to guide enterprises to dismantle in an environmentally friendly and standardized manner.
(17) Promoting the high-quality development of the resource recycling industry. We will accelerate the implementation of "reverse invoicing" by resource recycling enterprises to sellers of scrapped products by natural persons, and standardize the tax order of the resource recycling industry. We will implement special actions for the promotion and application of recycled materials, implement the extended producer responsibility system, and support manufacturers of automobiles, electrical and electronic products to increase the proportion of recycled materials used. Strictly crack down on "workshop-style" recycling and dismantling, and investigate and punish illegal recycling and dismantling of scrapped motor vehicles, waste electrical and electronic products, retired new energy equipment, retired power batteries and other acts in accordance with the law.
4. Give full play to the traction role
of standards (18) Speed up the formulation and revision of standards. To meet the international advanced standards, we will upgrade the mandatory technical, energy consumption and emission requirements of key industries and important equipment, promote the upgrading of quality and safety standards for large durable consumer goods such as automobiles, household appliances and home furnishings, and accelerate the formulation of energy efficiency or water efficiency standards in smart home, digital products and other fields. We will strengthen the supply of standards in the field of resource recycling, and study and formulate standards for recycling, dismantling and recycling in key areas such as scrap motor vehicles, waste electrical and electronic products, decommissioned new energy equipment and decommissioned power batteries. By the end of 2025, all 294 key national standards specified in the Action Plan for the Promotion of Standards in the "Two New" Areas will be formulated and revised on schedule.
(19) Strengthen supervision over the implementation of standards. Focus on the implementation of important standards, improve the quality supervision and spot check system, and include household appliances, furniture and building decoration materials, electronic and information technology products, transportation appliances and related products in the national key industrial product quality and safety supervision catalogue. To study the implementation of key national standards in the "two new" areas into the central quality supervision and assessment. We will continue to expand the scope of implementation of energy efficiency and water efficiency labels, and organize the selection of "leaders" in energy efficiency and water efficiency of products and equipment. Strictly enforce mandatory standards such as energy consumption and pollutant discharge, and enhance the binding force of standards.
5. Strengthen organizational implementation
(20) Strengthen organizational leadership. The National Development and Reform Commission will play a leading role in the "two new" inter-ministerial joint meeting system, and work with the Ministry of Finance to arrange for the implementation of the "two new" policy by expanding the scope of ultra-long-term special treasury bond funds in 2025, so as to strengthen overall coordination and follow-up dispatch. Departments such as the Ministry of Commerce, the Ministry of Transport and the Ministry of Agriculture and Rural Areas should speed up the refinement of subsidy standards in relevant fields according to their respective responsibilities, improve the implementation rules, and organize local governments to implement policies in relevant fields. The Ministry of Commerce integrates the national general consumer subsidy data platform, does a good job of data sharing and automatic comparison, simplifies the audit process, and improves the regulatory capacity. Provincial people's governments should implement the "two new" policies in light of the actual situation, consolidate the responsibilities of all parties, strengthen coordination and promotion, grasp the rhythm of work, give full play to enthusiasm, initiative and creativity, and continuously enlarge the effects of the "two new" policies.
(21) Strengthen financial support. The State Development and Reform Commission shall take the lead in arranging the renewal of equipment supported by ultra-long-term special treasury bond funds for the implementation of the supporting policies listed in Articles (1), (2), (4) and (14) of this Circular and the construction of qualified projects; Directly arrange ultra-long-term special treasury bond funds to support the replacement of old consumer goods with new ones for the implementation of the supporting policies listed in Articles (8), (9), (10), (11), (12), (13) and (5), (6). The funds directly allocated to local governments are generally shared by the central and local governments in accordance with the principle of 9:1, and the proportion of central governments in the eastern, central and western regions is 85%, 90% and 95% respectively. Provincial finance arranges supporting funds proportionally according to the allocation of central funds, and the method of sharing funds below the provincial level is determined by provincial finance. All regions should strictly implement the support standards in relevant fields specified in this circular, and the specific support standards and categories in other fields should be reasonably determined by each region in accordance with the actual situation, so as to ensure that the investment of funds meets the requirements of the "two new" policies. All regions should complete the liquidation of subsidy funds for replacing old consumer goods with new ones in 2024 in a timely manner, and make a smooth and orderly transition of relevant support policies across the year. If a region uses up the amount of funds for replacing old consumer goods with new ones issued by the central government, the excess part will be supported by the region through local funds, and the central government will no longer bear the burden. As of December 31, 2025, the unused funds for replacing old consumer goods issued by the central government will be recovered from the central government.
(22) Optimizing the threshold of participation. All regions should reasonably determine and timely update the list of business entities participating in the activities of replacing old consumer goods with new ones, and should not restrict the participation of business entities on the grounds of sales volume and the ability to advance funds. They should equally support online and offline business entities, as well as business entities of different ownership, registration and scale to participate in the activities. On the premise of doing a good job of risk provention and control, each region will allocate part of the funds to the corresponding payment platform or business entity in combination with the actual situation, so as to improve the efficiency of fund liquidation and reduce the pressure of enterprise advance and operation.
(23) Simplify the subsidy process. With the aim of facilitating and benefiting the people, all regions should issue subsidies for replacing old consumer goods with new ones through government platforms and mobile phone applications, which are widely known by the masses and frequently used in daily life, so as to reduce the duplication of information from the source. They shall not restrict the payment methods and types of payment vouchers of consumers, nor shall they require business entities to purchase new payment equipment on the grounds of participating in activities. We will optimize the review process of subsidies for replacing old consumer goods with new ones such as automobiles and household appliances, strengthen cross-sectoral data sharing, promote electronic certificates such as motor vehicle recycling certificates, implement multi-sectoral joint examination and approval, and reduce unnecessary levels and links of examination and approval. On the premise of good supervision of funds, all regions should clarify the time limit requirements from the approval to the allocation of funds to consumers, and strive to timely and efficient implementation of subsidies.
(twenty-four) standardize market order. All regions should organize the business entities participating in the activities of replacing old consumer goods with new ones to implement the public commitment of product sales prices. For those who find that there are price violations such as non-fulfillment of price commitments, "first price increase and then discount", and those who arbitrage subsidized funds, they should be disqualified from participating in activities at the first time, and the state subsidized funds should be recovered. We will open channels for consumers to report complaints, strengthen supervision and spot checks on the quality of consumer goods, and severely crack down on such acts as passing off fake products as genuine ones, shoddy products as good ones, old products as new ones, substandard products as qualified products, and forging and using energy and water efficiency labels. Illegal acts such as defrauding state subsidized funds shall be dealt with seriously in accordance with the law and regulations, and those suspected of committing crimes shall be transferred to judicial organs for strict investigation and punishment according to law. All regions should implement the requirements of speeding up the construction of a unified national market, break local protection, break regional and channel restrictions, and promote fair competition.
(25) Strengthen the supervision of project funds. Relevant departments should, in accordance with the division of responsibilities, strengthen the supervision and guidance of the whole chain of local project implementation and fund use, carry out online monitoring and early warning and offline field verification as a whole, and resolutely guard against such problems as untimely allocation of funds, slow use and misappropriation. The people's governments at the provincial level are the main bodies responsible for the management of projects and funds. They should strictly manage the funds of ultra-long-term special treasury bonds, carry out daily dispatch and on-site supervision of equipment renewal projects, strictly implement the centralized treasury payment system, keep the red line and bottom line of the use of funds, and not falsely list expenditures, falsely report expenditures, or allocate funds instead of expenditures, so as to avoid idle funds. For those who do not meet the above requirements and violate financial and economic discipline, the funds should be recovered in time, and the relevant personnel should be seriously investigated for their responsibilities in accordance with the law and regulations.
(26) Strengthen follow-up and evaluation. The National Development and Reform Commission, together with relevant departments, will strengthen the evaluation and supervision of the implementation of the "two new" policies in various regions and fields, urge the implementation of key tasks, and coordinate the solution of difficult and blocked problems. Relevant departments and provincial people's governments shall conduct self-evaluation and self-examination on the progress of work, the implementation of projects, the use of funds and the realization of performance objectives, and timely report the use of funds and the completion of performance objectives to the National Development and Reform Commission and the Ministry of Finance.The Ministry of Commerce and Finance of the National Development and Reform Commission compiles and forms a performance evaluation report, and takes the evaluation results as an important basis for subsequent optimization of fund arrangements.
(27) Strengthen publicity and guidance. Relevant departments in all regions should vigorously publicize the progress and effectiveness of the "two new" policies, interpret the policies in a timely manner, and actively respond to social concerns. All regions should carry out various publicity activities at the grass-roots level, such as communities and enterprises, and interpret the connotation and specific operation modes of the "two new" policies in detail. Strengthen the cooperation among the government, enterprises and social organizations, promote typical models and advanced experience, and vigorously create a good social atmosphere.
