On January 8, the National Development and Reform Commission (NDRC) and the Ministry of Finance jointly issued the "Notice on Expanding and Implementing Large-Scale Equipment Upgrades and Consumer Goods Trade-In Policies by 2025." The notice outlines measures to accelerate equipment upgrades, expand support for consumer goods trade-ins, and improve recycling and reuse levels.Regarding equipment upgrades, the notice specifies an increase in subsidies for the replacement of new energy city buses and their power batteries. The subsidy for replacing city buses over 8 years old and batteries beyond their warranty period will rise from 60,000 yuan to 80,000 yuan per vehicle. Local governments are encouraged to maintain stable power battery update subsidies and independently set vehicle replacement subsidy standards. The Ministry of Transport will guide regions to ensure smooth coordination and orderly transition of these favorable policies. View Details >