Two departments: Support for vehicle scrapping and updating in 2026, support for vehicle replacement and updating
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- The National Development and Reform Commission and the Ministry of Finance announced a policy for large-scale updates of equipment and a consumption upgrade scheme effective in 2026.
- This includes support for upgrading old trucks to lower emission vehicles, promoting new energy city buses, and incentivizing appliance replacement, with specific subsidies for consumers.
- The policy aims to enhance resource recycling, stimulate the economy, and encourage the use of environmentally friendly products, while ensuring robust management and funding allocation for these initiatives.