The Shenzhen Municipal Bureau of Commerce released a policy announcement on trade-in subsidies for cars, home appliances, and electric bicycles, stating that Shenzhen will implement a trade-in subsidy policy for home appliances from this year.

The first batch of subsidized categories includes eight types of home appliances: refrigerators, washing machines, televisions, air conditioners, computers, water heaters, household stoves, and range hoods. Individual consumers purchasing products with energy or water efficiency standards of level 2 or above will receive a trade-in subsidy set at 15% of the product's sale price. For products with energy or water efficiency standards of level 1 or above, an additional 5% subsidy on the product's sale price will be provided. Each consumer can receive a subsidy for one item per product category, with each subsidy not exceeding RMB2,000.

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The announcement also mentioned that Shenzhen's 2025 car scrappage and replacement subsidy will be implemented on the same day. During the period when the car trade-in policy is introduced this year, consumers who scrap or transfer their eligible old cars and purchase eligible new cars will be included in the subsidy support scope. Prior to the introduction of the 2025 policy, the subsidy requirements and standards for car scrappage and replacement will be implemented in accordance with those of the 2024 policy.

Meanwhile, the Beijing Municipal Bureau of Commerce released a cross-year connection plan, stating that the eight categories of products already included in the national home appliance trade-in policy support scope in 2024 will continue to enjoy trade-in subsidies from this year, with subsidy standards consistent with those of 2024.

For eight categories, namely refrigerators, washing machines, televisions, air conditioners, computers, water heaters, household stoves, and range hoods, that are already included in the national home appliance trade-in policy support scope, consumers can receive a subsidy for one item per category, with each not exceeding RMB2,000. In addition, the car trade-in subsidy will also continue to be issued.

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