Cui Dongshu, Secretary General of the China Passenger Federation, wrote that recently, 7 departments including the Ministry of Commerce and the Ministry of Finance jointly issued the “Automobile Trade-In Subsidies Implementation Rules”, clarifying the automobile trade-in financial subsidy policy. The implementation of the trade-in policy is a major benefit to the car market. The car market retail sales in May were significantly better than in April. It is estimated that the total amount of scrapped cars should reach a scale of nearly 10 million. Automobile trade-in subsidies will bring an increase of one million in the car market's private consumption of new cars, as well as an increase in annual consumption of more than 100 billion dollars. In May, the car market will surely sweep away the downturn and achieve relatively good growth. If the scrap renewal policy does a good job of providing a one-stop service for scrap renewal, and car companies make better policy support, the expected driving effect will be more prominent.