The "Two New" Policies Unleash Trillion-Level Capital Dividends
In February 2024, General Secretary Xi Jinping proposed encouraging and guiding a new round of large-scale equipment renewals and consumer goods trade-ins. In March, the State Council issued the *Action Plan for Promoting Large-scale Equipment Renewals and Consumer Goods Trade-ins*. In July, the National Development and Reform Commission and the Ministry of Finance jointly issued the *Measures to Further Support Large-scale Equipment Renewals and Consumer Goods Trade-ins*.
  • Unprecedented Funding Scale
    The state has arranged 300 billion yuan in ultra-long special treasury bonds, of which approximately 150 billion yuan directly supports large-scale equipment renewal. A special fund of 20 billion yuan has been set aside for interest subsidies on equipment renewal loans, with a subsidy rate as high as 1.5 percentage points.
  • Exhibition Hall Scenarios Clearly Defined
    Specialized plans issued by the Ministry of Culture and Tourism and five other departments define the implementation of the Smart Cultural Tourism Renovation and Upgrade Initiative, mandating support for sci-tech exhibition halls and tourist attractions to update intelligent cultural equipment and digital display devices.
  • Lower Thresholds and Expand Scope
    The application threshold of "total project investment of over 100 million yuan" has been completely abolished, enabling numerous small and medium-sized science and technology museums, popular science bases, and government-enterprise exhibition halls with wide coverage to conveniently obtain special financial subsidies.
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