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Many Places of China Introduce New Measures to Encourage the Consumption of New Energy Vehicles and

日期: 2021-11-15
浏览次数: 1

Towards the end of the year, all localities intensively introduced new consumption promotion measures, such as expanding automobile consumption, improving business district consumption, issuing consumption vouchers, etc., so as to enhance the ballast role of consumption on economic growth.


New energy vehicles and other bulk commodities are the focus of promoting consumption. Recently, Guangzhou issued several policies and measures on promoting urban consumption, and proposed to increase the incremental index of configuring energy-saving cars to 80000 from 2021 to 2022. Shenzhen proposed to further relax the application conditions for indicators of new energy cars, cancel social security conditions and other restrictions, and promote the sales of new energy cars.


Quanzhou City, Fujian Province and Yanbian Prefecture, Jilin Province also issued subsidy plans for new energy vehicles. According to the relevant plan, if you buy a new energy vehicle with more than 50000 yuan in Quanzhou, you will get a vehicle purchase subsidy of 5000 yuan; The single vehicle subsidy for specific models of Hongqi new energy vehicles in Yanbian Prefecture is as high as 60000 yuan.


Cui Dongshu, Secretary General of the national passenger car market information joint committee, told the Shanghai Securities News that the current lack of core has eased. It is expected that the output of new energy vehicles will reach 2.4 million this year, and there may be more relevant consumption promotion policies at the beginning of next year.


Building a first-class business district has become a driving force for consumption in Beijing, Tianjin and other cities. Beijing Chaoyang District will expand the Sanlitun taiguli business district and build more than 10 demonstration business streets to show the charm of fashion consumption and new consumption characteristics. Tianjin recently announced that it will add four shopping centers and two cross-border e-commerce offline display and experience stores by the end of the year.


Taiyuan, Shanxi and Xiamen, Fujian also launched the issuance of consumption vouchers this month. Taiyuan will issue 60 million yuan of consumption coupons this month to jointly carry out discount promotion activities with businesses to guide residents' consumption. Xiamen will carry out cultural tourism consumption season activities from November to March 31 next year, and issue 20 million yuan of cultural tourism consumption coupons.


The consumption promotion policies introduced in many places are expected to bear fruit by the end of the year. Wang Bin, deputy director of the Consumption Promotion Department of the Ministry of Commerce, previously said that the total retail sales of social consumer goods in the whole year is expected to reach 44 trillion yuan, an increase of 12.5% over 2020 and 8% over 2019.


As the first driving force of economic growth, China's consumption has been repeatedly disturbed by the epidemic this year, and the repair process is bumpy. Especially since mid October, there has been a multi-point epidemic in China, and offline consumption has been affected again. Many institutions predict that the month on month growth rate of total retail sales of social consumer goods in October will fall to 3% to 4% from 4.4% in September.


However, the macro team of CITIC Securities (25.340, 0.00, 0.00%) believes that the consumption capacity and willingness of residents have not decreased systematically. When the epidemic risk is more and more controllable, the impact of the epidemic on consumption will continue to weaken in 2022, and the growth rate of total retail sales of social consumer goods is expected to reach 8.7%.

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