Hubei Province Increases Support for Consumer Goods Replacement with Old Ones

TapTechNews August 27th news, the Hubei Provincial Government Information Office held a press conference today to announce measures to increase support for the replacement of consumer goods with old ones. It is introduced that a total of 6.666 billion yuan has been arranged by the national block and the Hubei provincial counterpart to support the replacement of consumer goods with old ones, which is more than 6 times the previous scale of funds.

The new regulations have added six areas such as the scrapping and renewal of old operating trucks, the renewal of new energy buses and power batteries, the replacement of electric bicycles with old ones, the home adaptation and renovation for the disadvantaged groups, the purchase of kitchen and bathroom home improvement supplies, and the purchase of electronic products, and the subsidy varieties for home appliances have been expanded from 5 types to 8 types, and the subsidy varieties for agricultural machinery have been expanded from 9 types to 15 types.

In terms of vehicle scrapping and renewal, Hubei will increase the subsidy standard from the previous 10,000 yuan for purchasing new energy passenger cars and 7,000 yuan for purchasing fuel passenger cars to 20,000 yuan and 15,000 yuan respectively.

In terms of passenger car replacement and renewal, Hubei will increase the fuel passenger car subsidy standard from the previous 2,000 yuan to 6,000 yuan to 7,000 yuan to 13,000 yuan, and the new energy passenger car subsidy standard from the previous 3,000 yuan to 7,000 yuan to 8,000 yuan to 16,000 yuan.

From August 10th to December 31st, 2024, subsidies will be given according to the product sales price for individuals to purchase 8 types of home appliances such as air conditioners, televisions, refrigerators, washing machines, range hoods, gas stoves, water heaters, and computers. Among them, a 20% subsidy for purchasing products with level 1 energy efficiency or water efficiency standards, and a 15% subsidy for purchasing products with level 2 energy efficiency or water efficiency standards; each consumer can be subsidized for one piece of each product, and each subsidy does not exceed 2,000 yuan. For hotel, guesthouse and other group-purchasing enterprises to buy TV terminal equipment products, a 20% subsidy for level 1 energy efficiency or water efficiency, and a 15% subsidy for level 2 energy efficiency or water efficiency (TapTechNews note: previously all were 10%).

For electric bicycles, for individual consumers to scrap non-national standard old electric bicycles or electric bicycles filed before July 30, 2019, and purchase new electric bicycles that meet the conditions, the subsidy is divided into 3 grades, that is, a single consumer spends more than 1,200 yuan (including 1,200 yuan) to less than 2,000 yuan, a one-time immediate subsidy reduction of 300 yuan; more than 2,000 yuan (including 2,000 yuan) to less than 3,000 yuan, a one-time immediate subsidy reduction of 400 yuan; more than 3,000 yuan (including 3,000 yuan), a one-time immediate subsidy reduction of 500 yuan.

For individual consumers to purchase 23 types of kitchen and bathroom products such as steam ovens, microwave ovens, dishwashers, disinfection cabinets, rice cookers, coffee machines, bread machines, etc., enjoy a one-time immediate subsidy reduction of 20% according to the product payment price, and a single consumer can enjoy a subsidy of no more than 2,000 yuan once both online and offline.

For individual consumers to purchase all-category and all-brand home improvement products such as bed frames, mattresses, sofas, tables, chairs, wardrobes, bookcases, cabinets, et c., each consumer will be given a one-time fixed subsidy of 1,000 yuan for a single consumption of 5,000 yuan or more, and a one-time fixed subsidy of 2,000 yuan for a single consumption of 10,000 yuan or more.