In order to implement the decision-making and deployment of the CPC Central Committee and the State Council, in accordance with the "Ministry of Commerce and other 14 departments on the issuance of of the notice" (Business Consumption Development [2024] No. 58) requirements, recently, the Ministry of Commerce, the Ministry of Finance and other 7 departments jointly issued the "automobile trade-in subsidies implementation rules" (hereinafter referred to as "rules"), clearing up the automobile trade-in capital subsidy policy.
The Rules clarify the scope and standard of subsidies. During the period from the date of issuance of the Rules to December 31, 2024, individual consumers who scrapped fuel passenger cars with National III or lower emission standards or new energy passenger cars registered before April 30, 2018 and purchased new passenger cars complying with the energy-saving requirements can enjoy a one-time flat-rate subsidy. Among them, the subsidy is 10,000 yuan for scrapping the above two types of old passenger cars and purchasing eligible new energy passenger cars, and 7,000 yuan for scrapping fuel passenger cars with National III or lower emission standards and purchasing fuel passenger cars with 2.0-liter or lower displacements.
The Rules clarify the process of subsidy application. Individual consumers who intend to apply for automobile trade-in subsidies shall, before January 10, 2025, fill in the application materials by logging into the website of the National Automobile Circulation Information Management System or the "automobile trade-in" applet, and the relevant materials shall be obtained during the period from the date of issuance of the Rules to December 31, 2024.
The Rules clarify the requirements for supervision and management. The relevant departments in each locality shall do a good job of subsidizing the funds for automobile trade-in in accordance with their responsibilities and strengthen supervision and management. Localities shall not require that scrapped cars be sold to designated enterprises, and shall not set up separate subsidy catalogs or lists of enterprises that are geographically and technologically product-specific. Localities shall set up telephone consultation hotlines for automobile trade-in, respond to public demands in a timely manner, and accept social supervision.
Next step, the Ministry of Commerce will work with relevant departments to guide localities to implement the subsidy policy, increase publicity and interpretation, and facilitate consumers' participation in the auto trade-in program to better meet the people's needs for a better life.
