National Development and Reform Commission: Has issued the second batch of 62.5 billion RMB ultra-long-term special government bond funds to localities to support the consumption upgrade policy for replacing old products with new ones

The National Development and Reform Commission stated that it has recently allocated the second batch of 62.5 billion yuan in ultra-long-term special government bond funds to local governments, supporting them in the continued smooth and orderly implementation of the old-for-new consumer goods policy.

Next, relevant departments will continue to guide local governments, reasonably grasp the work rhythm, optimize and improve the fund usage plan, strengthen fund supervision, standardize subsidy applications and fund audits, improve subsidy payment efficiency, carry out special rectifications against fraudulent subsidies and "first raise then subsidize," and continuously enhance the effectiveness of policy implementation.

Since the beginning of this year, the nationwide sales of old-for-new consumer goods have exceeded 433.2 billion yuan, benefiting over 60.93 million people and driving a year-on-year growth of 2.8% in the total retail sales of consumer goods in the first two months, accelerating by 1.9 percentage points compared to December of last year