Starting today, the first batch of 62.5 billion yuan in special subsidies for automobile and home appliance trade-ins has been officially issued nationwide. The policy covers fuel vehicles, new energy vehicles, refrigerators, washing machines and other categories, with a maximum subsidy rate of 15%, aiming to unlock the stock market and promote green consumption upgrading.

In the auto sector, NEVs enjoy stronger subsidies, with up to 10,000 yuan for pure electric vehicle replacements. Combined with manufacturer discounts, buying enthusiasm has surged. For home appliances, green and smart appliances are prioritized, with strong sales growth in A-level energy-efficient and smart devices. The subsidies are expected to drive a consumption recovery in the second quarter and boost industrial output by more than 100 billion yuan.

Auto parts and white goods sectors rose sharply in today’s trading, attracting active capital inflows. Leading companies such as BYD and Midea Group strengthened on improved earnings expectations. Analysts pointed out that trade-in policies work with previous consumption stimulus to effectively unlock household spending potential. As policies take effect, the consumption sector is likely to stage a phased rally, becoming a key pillar for stable economic growth.