Recently, the National Development and Reform Commission and the Ministry of Finance jointly issued the “Notice on Implementing Large-scale Equipment Renewal and Consumer Goods Trade-In Policies in 2026”, which makes systematic arrangements for the “two new” work in 2026. Compared with 2025, the optimization plan shows the characteristics of “precise effort, quality improvement and efficiency”. In the field of consumer goods trade-in, the “Notice” makes it clear that in 2026, the previous fixed subsidy for automobile trade-in was optimized and adjusted to a proportional subsidy according to the vehicle price. The maximum subsidy for scrap and renewal was 20,000 yuan, and the maximum subsidy for replacement and renewal was 15,000 yuan. In 2026, the trade-in of home appliances supports six categories of products, including refrigerators, washing machines, televisions, air conditioners, computers, and water heaters. By further concentrating resources, the “compensation rate” will be higher. According to the “Notice”, consumer goods trade-in funds directly arranged with the local authorities in 2026 will still generally be shared between the central government and the region in accordance with the 9:1 principle. The central government issues funds for trade in consumer goods in batches on a quarterly basis. Local sectors rationally formulate plans for the balanced use of funds, strengthen fund supervision, and maintain the bottom line of fund safety. In the field of equipment renewal, on the basis of maintaining overall continuity, the “Notice” further includes people's livelihood concerns, public safety, and key equipment in the field of offline consumption, including installing elevators in old neighborhoods, upgrading equipment in pension institutions; updating fire rescue facilities, inspection and testing equipment; and supporting the upgrading of offline consumer commercial facilities such as commercial complexes, shopping centers, and large supermarkets. The “Notice” increases support for equipment renewal for small and medium-sized enterprises, drastically lowers the investment threshold for reporting equipment renewal projects in related fields, and enables “full enjoyment” of policy dividends. In 2026, the optimized “two new” policies will focus more on improving quality and efficiency, expanding domestic demand, steady growth, promoting transformation, and benefiting people's livelihood.

Recently, the National Development and Reform Commission and the Ministry of Finance jointly issued the “Notice on Implementing Large-scale Equipment Renewal and Consumer Goods Trade-In Policies in 2026”, which makes systematic arrangements for the “two new” work in 2026. Compared with 2025, the optimization plan shows the characteristics of “precise effort, quality improvement and efficiency”. In the field of consumer goods trade-in, the “Notice” makes it clear that in 2026, the previous fixed subsidy for automobile trade-in was optimized and adjusted to a proportional subsidy according to the vehicle price. The maximum subsidy for scrap and renewal was 20,000 yuan, and the maximum subsidy for replacement and renewal was 15,000 yuan. In 2026, the trade-in of home appliances supports six categories of products, including refrigerators, washing machines, televisions, air conditioners, computers, and water heaters. By further concentrating resources, the “compensation rate” will be higher. According to the “Notice”, consumer goods trade-in funds directly arranged with the local authorities in 2026 will still generally be shared between the central government and the region in accordance with the 9:1 principle. The central government issues funds for trade in consumer goods in batches on a quarterly basis. Local sectors rationally formulate plans for the balanced use of funds, strengthen fund supervision, and maintain the bottom line of fund safety. In the field of equipment renewal, on the basis of maintaining overall continuity, the “Notice” further includes people's livelihood concerns, public safety, and key equipment in the field of offline consumption, including installing elevators in old neighborhoods, upgrading equipment in pension institutions; updating fire rescue facilities, inspection and testing equipment; and supporting the upgrading of offline consumer commercial facilities such as commercial complexes, shopping centers, and large supermarkets. The “Notice” increases support for equipment renewal for small and medium-sized enterprises, drastically lowers the investment threshold for reporting equipment renewal projects in related fields, and enables “full enjoyment” of policy dividends. In 2026, the optimized “two new” policies will focus more on improving quality and efficiency, expanding domestic demand, steady growth, promoting transformation, and benefiting people's livelihood.